Ampcontrol acquired by Washington H. Soul Pattinson

Australian electrical engineering company Ampcontrol has announced that Washington H. Soul Pattinson and Company Limited (WHSP) will acquire 100% shareholding.

Australia’s second-oldest public company listed on the Australian Stock Exchange (ASX: SOL), WHSP has significant investments in a diverse portfolio of assets across a range of industries. With origins in owning and operating Australian pharmacies, WHSP has expanded beyond pharmacy and today has a much broader investment portfolio encompassing investments in natural resources, building materials, telecommunications, retail, agriculture, property equity, investments and corporate advisory.

Ampcontrol Managing Director & CEO Rod Henderson said the investment acquisition marks a remarkable new era for the Australian manufacturing business and the next chapter in its growth story.

“The increased investment by WHSP cements ongoing commitment to our strategic business plan for the continued growth of our business, as well as allowing us to take advantage of various synergies, partnerships and expansion opportunities across new and emerging domestic and international markets that will better serve our customers, industry, and community in an ever-changing global landscape,” he said. “Our commitment to R&D, and our talented workforce, will result in our customers benefiting from a rapidly expanding portfolio of products and service capabilities, cutting-edge digital technology and accelerated innovation to help solve some of the greatest challenges facing our future such as decarbonisation and renewable energy solutions.

“We want to make a meaningful difference and improvement to people’s lives and communities, the way they live and work by providing solutions that enable a sustainable future for everyone. We are pleased to be working with WHSP in this shared vision.”

Washington H. Soul Pattinson Managing Director Todd Barlow said: “Ampcontrol is uniquely positioned to capitalise on the decarbonisation theme with its people, technology and services. The founders of Ampcontrol, in particular Peter Cockbain, have created a great platform business and WHSP is excited to be investing further in its next stage of growth.”

WHSP has held a major shareholding in Ampcontrol Limited since investing in the company in 2005 and will now acquire the remaining shareholdings from other investors including Ampcontrol Co-Founder Peter Cockbain.

Acknowledging the successful history of Ampcontrol, Rod Henderson thanked the foresight of co-founders Neville Sawyer, Peter Cockbain, Keith Grant and Tony Studdert who started the business in a small shed in Newcastle, NSW, in 1968.

“We are immensely proud of our humble beginnings and the legacy that has been built over the past 54 years. Our history is one full of twists and turns, technological firsts, impressive growth and global reach founded on a simple yet rock-solid foundation of innovation. Ampcontrol will continue to be the sum of all its parts, the most important of which is its people,” he said.

Image: ©stock.adobe.com/au/NicoElNino