MARITIME and aviation service company Auriga Group has yesterday (11 December) announced the acquisition of Darwin Tug and Line Service (DTLS).
Auriga confirmed it entered into a sale and purchase agreement with DTLS in November and has achieved all the regulatory approval hurdles for the transaction to be approved and completed by the Australian Competition and Consumer Commission (ACCC) and Foreign Investment Review Board (FIRB).
Headquartered in Brisbane, DTLS’ adjacent operations in the Northern Territory complement Auriga Marines’ business operations across Northern Australia, the company said.
Auriga Group said this new combined service offering will enable the company to provide more streamlined and comprehensive marine service solutions for its clients, with four additional tugs and multiple workboats to support activities nationally.
The company confirmed DTLS directors Peter West and Chris Farris will remain in their roles and continue to manage the business’s operations and strategic growth “over many years to come”.
Additionally, Auriga confirmed all current DTLS staff will remain with the business to support ongoing operations and growth opportunities.
The Auriga Group Board has reset the company’s long-term outlook and growth strategy.
Auriga Group board member and share holder representative from OPTrust, Stan Kolenc said, “Our investment outlook and commitment to continue growing Auriga Group has never been more focused, and OP Trust will continue to support the Executive team’s strategic direction to accelerate growth both organically and through M&A for many years to come”.
Auriga adds to its existing base of pilotage, aviation, and marine services with the acquisition, with the DTLS website listing over a dozen vessels of various types at its disposal.
DTLS has operated in the NT since the 1970’s, with the company changing ownership several times in this period, with the most recent case before now being in 2016.
