An agreement has been reached for the sale of national coatings distributor Robayne Pty Ltd, which includes the sale of the company’s assets and business to unrelated private equity interests and their current General Manager, Doug Barber. The agreement ensures all employee entitlements will be met, and a return provided to secured creditors.
“We are grateful for the support of our suppliers and customers over the past two months and our staff nationwide are excited about the bright future of our new company, Robayne Industrial Supplies,” said Barber. “We are committed to providing our wide range of products and services to our customers and our objective is to drive a high standard of service, draw on our technical knowledge and expand our range to ensure we best support our customers’ needs.”
Under the agreement, the majority of the staff have been retained by Robayne Industrial Supplies and they will work throughout the national branch network, although Barber confirmed there had been some consolidation in Tasmania and Adelaide.
Under the new ownership structure, the business will continue to trade as Robayne and will be led by Barber. “We will continue to represent key suppliers in the automotive and industrial sectors around Australia, and our sales and distribution platform will continue to supply customers in these markets, representing major paint manufacturers,” added Barber.
“We are so pleased to continue to employ staff in regional areas experiencing tough times through the drought, where alternative employment is difficult to find. Moving forward, we will not be all things to all people. We will work out what we do best, and we will do it to the best of our collective ability.”