Australia’s Mining Monthly understands the consideration for the Industrea acquisition is less than $100 million.
Cougar managing director Chad Dilinger said the acquisition would ensure Cougar maintained a strong position in the global mining market ahead of its 20 year anniversary with the newly-created Cougar Industrea Mining Equipment as part of the Cougar group.
The company will focus on the production of mechanical and electrical equipment under the Cougar IME brand.
Dillinger said the acquisition of Industrea Mining Equipment assets and creation of Cougar IME gave the company the ability to manufacture a full range of underground equipment as well as the original equipment manufacturer rights and responsibilities for 800 machines world-wide.
“The mining industry radically slowed down between 2013 and 2015, with most of the global mining services companies retracting from Australia due to lack of demand,” he said.
“This created opportunities for smaller more dynamic companies to fill the space. Cougar was employing key people and buying equipment when others were down-sizing and shutting down.
“Today there are four operating entities: Cougar Mining Group, Cougar IME, Cougar Drilling and Cougar Stratajacks.”
The IME product range will have local support in New South Wales, Queensland and China.
That range includes the Minecruiser, Minegrader, Flitmate, Minedozer, shearer transporter, longwall chock carriers, and in seam drill rigs.
As a group, Cougar’s pipeline is in excess of $100 million with more than 80% of its order book contracted for the next 24 months.
Cougar employs more than 140 people across NSW, Queensland and China with its FY18 revenue forecast at $60 million.