Cybem is a 17-year-old company based in Perth and Kalgoorlie that provides on-site labour support, field service and mechanical repair services.
The business has averaged about $9.5 million in revenue and $1 million in earnings before income, taxes, depreciation and amortisation over the past four years.
With lead times for equipment blowing out in the past 12 months due to COVID-19 related supply chain crunches, there is strong demand for local rebuild work, and Aquirian hopes Cybem can tap into the strong demand for equipment rental, maintenance and field services.
Aquirian managing director and CEO David Kelly said the acquisition represented a significant step in realising the company's strategy of becoming a leading provider of equipment and associated services.
"The acquisition of a business like Cybem will allow Aquirian to enhance its maintenance capabilities to support the growth in our rental business, strengthen our customer offering to existing customers and increase our customer diversity with the introduction of new customers," he said.
"Aquirian is pleased to retain the experienced and well-respected Cybem leadership who share a common focus, culture and values with Aquirian."
Kelly said Aquirian looked forward to welcoming Cybem employees into the company.
Aquirian shares jumped 20% this morning to 36c, an all-time high.
