Overview

Deal closed: April 2024
Oasis M&A mandate: Sell-side
Sectors: Hydro Geology

Background & motivation

Pennington Scott specialises in the exploration and development of water resources, providing exemplary, cost-effective and diverse groundwater solutions on time and on budget.

As “clean water” specialists, Pennington Scott has addressed an array of project needs throughout Australia, South-East Asia, Africa, the Middle East and Far East.

The owner wanted to retire. He had built up a successful pump testing and hydro geology business over many years and was looking at an exit over the next three years with an immediate exit from the day to day running of the business.

Challenges

Pennington Scott was not quite large enough for the big end of town and too specialised for many of the other mining services/engineering and geotechnical firms.

Approach

Oasis Partners engaged with 91 potential targets and navigated through numerous preliminary inquiries. A crucial aspect of our success was actively listening and accurately modelling the vendor’s desired outcomes. This approach was instrumental in structuring the deal with Galt who were clearly a strategic acquirer with a solid understanding of the space.

Results

Oasis Partners worked through any challenges with a strategic approach and managed to close the deal within 11 months, which accorded with the clients objectives and just inside our 13 month average.