Australia's Quadrant to buy mining equipment supplier CQMS Razer

Australian investment firm Quadrant Private Equity has executed an agreement for the purchase of Queensland-based mining equipment supplier CQMS Razer, in a deal which values the company at over AUD$155 million.

Deal Journal Australia reports that the agreement entailed the sale by Macquarie Capital, one of Australia's leading investment banks, of its 55% stake in CQMS Razer.

CQMS Razer was founded in 1979 in the resource-rich state of Queensland under the name of Central Queensland Mining Services, and has expanded vigorously over the past three decades with the acquisition of Razer Industries, Pac Mining, Walkers Foundry, Hendrix Foundry and Mason & Cox.

The company currently has operations in Australia, China, South America and North America and Europe.