Mill relining systems original equipment manufacturer Russell Mineral Equipment (RME) has entered into an agreement to acquire industrial blasting and protective coatings business Masterblasters.
Settlement of the acquisition is expected to occur in the near-term once customary transaction conditions have been satisfied.
Masterblasters’ owner Tim Hamblin and business manager Liz Hamblin will join RME and all roles will be retained under this agreement.
Hamblin founded Masterblasters in Toowoomba in 2006 with a single paint and blast booth after identifying a gap in the market. It now operates in the abrasive blasting and industrial coatings space for structures and equipment in challenging environments, including mining, oil and gas, utilities, defence, agriculture, transport, construction and manufacturing.
RME founder Executive Chairman and Chief Engineer John Russell says the acquisition is an opportunity to strengthen the company’s position as an original equipment manufacturer (OEM) of mill relining technologies.
It will also secure an important durability feature in RME’s supply chain, and that of the long-term future of another Toowoomba-founded business, Russell says.
Commenting on the deal, Hamblin says from the beginning Masterblasters’ focus was on delivering the highest quality service which resulted in significant growth early, confirming the demand.
“Not long after starting, we identified RME as a customer, focused on quality and timely delivery. Within a couple of years, we went from protecting and finishing a few of their parts to protecting and finishing their industry-changing, Russell Mill Relining Machines,” Hamblin adds.
“Our customer roster continued to grow, as did the need for larger premises, more equipment, more staff, and more training.”
Russell Mill Relining Machines are used in mineral concentrators where acidic process waters and airborne contaminants present significant corrosion hazards and risk. As such, abrasive blasting and industrial coatings are critical steps to ensure the durability and longevity of its equipment.
Established in 1985, RME employs more than 450 people worldwide and has grown to have operations across more than 440 mine sites and 64 countries, with 13 international sales and service centres.
Write to Adam Orlando at Mining.com.au
Images: RME
