- Specialist chemicals business DGL Group (DGL) expands interstate fleet after announcing it will purchase Shackell Transport for $8.9 million
- Shackell is a freight carrier service that specialises in bulk liquid haulage
- For the purchase, DGL will pay $7.8 million cash and issue over 506,000 shares
- Notably, this is the first acquisition for DGL’s warehousing and distribution division and will complement existing fleet
- On market close for the day, DGL is up 1.05 per cent and is trading at $2.88 per share
Specialist chemicals business DGL Group (DGL) has agreed to purchase Shackell Transport for $8.9 million.
Shackell is a freight carrier service that specialises in bulk liquid haulage. The company has been operating for over 40 years and offers services across Australia to customers in the food, mining, chemical, agricultural, building and construction industries.
For the purchase, DGL will pay $7.8 million cash and issue over 506,000 shares.
Notably, this is the first acquisition for DGL’s warehousing and distribution division and will complement the existing fleet.
Included in this takeover is Shackell’s fleet, consisting of 28 primer movers, 22 bulk liquid tankers and 31 trailers that cater for specialised products and services.
DGL’s founder and CEO, Simon Henry, said the purchase will add 71 vehicles to the group.
“Shackell Transport further enhances our service offering to our customers, providing them with additional services and capabilities to align with their needs,” he said.
“We are seeing more of our customers seeking efficiency in their supply chains and moving towards consolidating suppliers. By expanding our inter-state transport and bulk tanker fleet, we are cutting out the need for multiple suppliers, saving on transport costs and offering our customers all services in the sphere of chemical management.”
“Investing in quality equipment sets us up for the long-term and ensures we are able to keep up with the demand the industry requires. Expanding our inter-state transport fleet brings synergies between our three divisions and connects our Australia-wide network of facilities, giving us greater control over distribution and the customer service experience.”
On market close for the day, DGL was up 1.05 per cent and is trading at $2.88 per share.