Hamilton Locke have advised Dynamic Group Holdings Ltd (ASX: DDB) on its agreement to acquire 100% of Welldrill.
Based in Western Australia, Welldrill is a water well drilling business with an outstanding reputation having serviced tier 1 clients and WA government organisations for over 20 years.
The acquisition of Welldrill will complement Dynamic Group’s current service offering and will provide increased customer diversification and scale to drive cost efficiencies. Dynamic Group wholly owns WA based subsidiaries Dynamic Drill & Blast and Orlando Drilling.
Commenting on the transaction, Hamilton Locke Partner Shaun Hardcastle said: “This acquisition is testament to Dynamic Group Holding’s successful growth strategy since they listed less than 2 years ago in 2020, and follows on from their acquisition of Orlando Drilling last year. We look forward to working closely with and supporting the team at Dynamic Group Holdings as they continue to grow”.
The team at Hamilton Locke was led by Partners Shaun Hardcastle and Jeremy Newman and supported by Special Counsel Sally Scott and Lawyer Jordon Rossetto. Sternship Advisers acted as financial adviser.
Click here to read the full ASX announcement.
