Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Stealth Global has purchased Western Australia business, Protect-A-Load for $528,000
  • The WA business will be integrated into the Heatleys Safety and Industrial Division
  • The Protect-A-Load product range will be marketed through Heatleys and will be rapidly rolled out across Australia
  • Stealth Global is up 43.75 per cent on the market today and is selling shares at 12¢ apiece

Stealth Global has acquired a Western Australia business, Protect-A-Load for $528,000.

Protect-A-Load designs and supplies innovative load restraint products. Its products include 18 teeth ergonomic reverse action ratchet tie-downs and patented lockable cargo nets.

Stealth paid $258,000 for the business, plus an additional $270,000 for trading inventory at cost. Protect-A-Load has a contracted sales pipeline of $250,000 and has a matching future inventory at cost.

The WA business will be integrated into the Heatleys Safety and Industrial Division. Stealth said its products will complement and extend the existing Heatleys range.

Stealth is an Australian multinational distribution group providing workplace consumable products and supply chain solutions to businesses.

Stealth Managing Director Mike Arnold said the acquisition of Protect-A-Load is consistent with Stealth’s growth strategy.

The company has continued to invest in expanding its product range building a stronger and more competitive business since listing on the ASX in October 2018.

Stealth believes Protect-A-Group has growth potential when its combines with Heatleys range.

“The addition of this product range allows us to expand our offering of high quality, innovative products that add value to our customers, and improve operational health and safety,” Mike said.

The Protect-A-Load product range will initially be marketed through Heatleys and will be rapidly rolled out across Australia through the 27 member stores.

Stealth Global is up 43.75 per cent on the market today and is selling shares at 12¢ apiece at 3:03 pm AEDT.

SGI by the numbers
More From The Market Herald
MoneyMe (ASX:MME) - CEO, Clayton Howes

" MoneyMe (ASX:MME) hits $1b originations milestone

MoneyMe is celebrating after hitting a $1 billion in originations milestone during the recent September quarter of the 2021 financial year.
PayGroup (ASX:PYG) - Managing Director, Mark Samlal

" PayGroup (ASX:PYG) releases strong September results and FY22 guidance

PayGroup (PYG) is releasing its annual recurring revenue (ARR) guidance for the 2022 financial year.
Zip Co (ASX:Z1P) - Global CEO and Cofounder, Larry Diamond

" Zip Co (ASX:Z1P) announces record September quarter

Zip Co’s (Z1P) share price has risen as it announces a record September quarter.

" Spheria (ASX:SEC) announces initial quarterly fully franked dividend of 2.5 cents

Spheria Emerging Companies (SEC) says it will pay shareholders an initial quarterly dividend of 2.5 cents per share for the period ended Septembe…