Specialist fixed-speed diesel equipment business Redstar Equipment has been acquired by diversified investment and development company CFC Group.
It’s a move which will enable Redstar to access a broader range of markets across the country, according to Kevin Ennis, who continues his role as the company’s general manager.
Redstar Equipment, which was previously owned by Onsite Rental Group, supplies generators, compressors, welders, lighting towers, distribution boards and parts to many of Australia’s largest mining, construction, industrial, rental and government organisations.
The CFC Group has interests in distribution, logistics, mining services, property and infrastructure. It owns Cape Crushing and Earthmoving, Centurion Transport, JCB Construction Equipment Australia and Underground Services Australia.
“This purchase will allow Redstar to align themselves with a likeminded company that values the importance of a quality product,” CFC Group executive chairman Philip Cardaci says. “We are looking forward to Redstar joining our diverse group and the opportunities this will bring to both our businesses.”
Ennis says that Redstar already enjoys strong market share on the western and eastern seaboards, but this should broaden to a nationwide reach under the new ownership.
“Redstar will maintain its generator and general equipment range plus continue with its equipment services offering, but there is now more opportunity for growth for our customers, employees and the business itself,” he says.
“Thanks to the CFC Group’s national service network, we will have even wider exposure to crucial markets such as mining and construction and our customers will have access to services that CFC provides under that network, such as additional national support and technical advice.”
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