The PPK Group has acquired electronic management system company MONEx.
PPK, which paid $2.8 million for the company, its technology, IP, and associated manufacturing line, has been on the lookout for bolt-on acquisitions since June, when it sold its property to fund the planned mergers.
The MONEx EMS is already an integral part of the PPK Coaltram flameproof and explosion proof LHDs manufactured by PPK at its Tomago facility.
Commenting on the buy, PPK chairman Robin Levison (the former head of Industrea), said “PPK is delighted to have completed the acquisition of MONEx EMS technology and looks forward to now being able to provide a ‘one stop shop’ OEM experience for all Coaltram customers”.
“Full ownership of this technology including patents and trademarks will allow a much easier path to export, specifically to the Chinese and South African markets.”