PRESS RELEASE: Metco Industrial sold to ThoroughClean – Johnsons Corporate Divestment

March 2018

A worker using a Metco distributed Jetstream product to clean industrial equipment

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to a synergistic trade buyer in the industrial services sector. After facilitating a comprehensive, end-to-end sales and negotiations process, our client – Metco Industrial – has been acquired by ThoroughClean for an undisclosed amount. Based in Adelaide, South Australia – Metco has long specialised in the design, assembly and manufacture of purpose-built ultra high pressure water cleaners (15,000 to 40,000 psi). ThoroughClean is a QLD manufacturer of mid-range high pressure water cleaners (2000 to 15,000 psi), supplying several market sectors including both light and heavy industrial.

The team at Johnsons were pleased to act as lead advisors to Metco and would like to extend our congratulations to both the Vendor and the Purchaser.

After 9 years progressing the R&D of Australian-specific high-pressure solutions and more than doubling sales over the last 5 years, Metco’s owner engaged Johnsons to lead a divestment campaign to identify a strategic acquirer to take Mecto to the next level. Following  comprehensive buyer research and a national marketing campaign – targeting both trade and financial buyers – Johnsons generated more than 39 Expressions of Interest and secured Offer & Acceptance within 12 weeks of going to market.

According to ThoroughClean’s CEO, the acquisition of Metco is an important step in achieving the company’s goal to become the leading supplier in Australia and New Zealand of a diversified range of high pressure water solutions.

For over 50 years Johnsons Corporate has specialised in the provision of business sales and acquisition services for mid-sized, private Australian companies. Our clients achieve great results because Johnsons’ approach is specifically designed for the mid-market business sector. Custom research and direct marketing capabilities, combined with expertise in sales and negotiations, create a service unavailable elsewhere in the field of traditional business broking and corporate advisory.