Asset renewal fi rm on an acquisitions hunt

Asset renewal fi rm on an acquisitions hunt

Clearhouse Technology is hunting down potential acquisitions in an aggressive bid to grow its asset renewal and disposal business over the next financial year.

The Victorian company's managing director, Tony Nestola, said it wanted to acquire organisations which were similar to its own business and that offered project management skills. "We're looking to grow 30 per cent via organic growth but we're also looking to get close to double our current numbers by acquisition with similar companies," he said.

"We're after organisations that specialise in asset recovery services, asset management disposal and recycling of IT product. We're very environmentally conscious about what happens to a product once we have picked it up." Nestola said it was also keen to establish a partner in Sydney to address the NSW market. Other items on the list included introducing new customer services, such as product integration and redeployment.

"We are getting into the full lifecycle management of the IT product. Part of that is doing the whole integration services and redeployment as well. This is where corporate organizations or governments have surplus equipment they don't have a home for," he said. "What we will do is bring them into our facility, store them and then redeploy them into different areas within their company as they are required."

As a part of its growth plans, Nestola said he would like to hire five additional sales staff. Clearhouse currently has 25 employees. He said he then hoped to expand into US, Europe and Asian markets by the end of the next financial year.

"We're currently strategically aligned with the largest asset recovery company on the west coast of the US," he said. Nestola would not disclose the name of the company. "We're in preliminary discussions with them and are looking at being financially connected."

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