Hastie Acquires Fire Protection Services’ Business - Strategic Acquisition

04.05.10

Hastie Group Limited today announced that it has purchased the assets of Spectrum Fire & Security, one of the largest fire services businesses in Australia, with revenues in excess of $100 million a year, a national footprint and over 600 employees.

The Group’s Managing Director and Chief Executive Officer, David Harris, said the assets had been purchased for $7 million after the company had been placed into voluntary administration.

Mr Harris said the acquisition was in line with Hastie’s stated strategy to enter the fire services market and grow its recurring revenue base.

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