Verbrec Limited (ASX:VBC) provides engineering, asset management, operations and maintenance, and training to the energy, mining, infrastructure and defence industries in Australia, New Zealand, PNG and the Pacific Islands.
The company operates two divisions in Engineering (~90% of FY25 revenue) and Competency Training (~10% of FY25 revenue).
The company has announced that it has signed an agreement to sell Competency Training to RelyOn Australia Pty Ltd for a headline purchase price of $11.5m, payable full in cash on completion, but subject to adjustments for working capital and net cash/debt at completion.
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