Catalyst acquires interest in Morris Corp
9th Feb 12
Catalyst Investment Managers Pty Ltd (“Catalyst”) and Morris Corporation Holdings Pty Ltd (“Morris”) has announced that they have completed a transaction where funds advised by Catalyst have acquired a significant shareholding in Morris.
Morris is one of the largest providers of remote facilities management and accommodation services to the resources sector in Australia. The business first commenced operations in 1966 and now provides comprehensive facilities management services in remote regions to customers in the mining and oil & gas sectors. Morris also owns and operates a number of remote accommodation camps which cater for fly-in fly-out (FIFO) workers.
Under the terms of the transaction, Catalyst has acquired a 49% interest in Morris, with the current major shareholder, Robert McVicker and management continuing to hold the balance of the shares in the company.