Hastie Group (HST)

Shares / Stock Code

HST

Stock Exchange / Sharemarket

ax

Hastie Group (HST) is a market leader in the provision of essential business services and refrigeration systems. The Company provides commercial and industrial air conditioning, mechanical, electrical, hydraulics and refrigeration products and systems. HST is a part of S&P/ASX-200 Index and it listed on the ASX on March 29, 2005. The Company operates in Australia, New Zealand, United Kingdom and Ireland and the Middle East, with more than 7,000 employees serving the Company at in excess of 60 locations.

Hastie Group operates through four segments namely, Mechanical and Hydraulics, Refrigeration, Electrical, and Maintenance and Service. Its Mechanical and Hydraulics segment engages in the design, engineering, assembly and installation of commercial and industrial air conditioning and hydraulics products and systems. Its Electrical business includes the provision of electrical, communication, data and dry fire services to the construction and associated services sectors. Its Maintenance and Service segment offers the preventative and breakdown maintenance solutions for commercial and industrial air conditioning systems. Its Refrigeration segment focuses on the design, installation, manufacture and service of commercial and industrial refrigeration products and systems, mainly for retailers and industries.

HST’s brands lead their local markets, with its clients consisting of several largest construction companies, shopping malls, Industrial companies as well as facility managers. Hastie Group prides itself on having some of the best people in the industry, comprising design engineers, professional project managers, draughtsmen, as well as a team of skilled tradespeople. HST is a member of The Green Building Council Australia.

Hastie Group History

HST commenced operations as a draper’s business in UK in the 1800s. Gradually, it included more services like insulation contracting, sheet-metal fabrication and air conditioning installation. In 1970, it established a subsidiary in Sydney, which became a 100% owned Australian company in 1994 and soon entered into Perth. In 2001, HST diversified into the design & construct market and formed collaboration with RMB. It then acquired air-conditioning installation & maintenance Australian companies like Optimus, Trilogy Maintenance Services, and Palmer Air Conditioning. This allowed HST to gain local presence in various markets.

It won Auckland Hospital contract and entered into New Zealand market. In 2004 HST expanded into the Refrigeration business by acquiring several refrigeration businesses like Austral Refrigeration, QAL Refrigeration and Hastie Refrigeration Service. The takeover of D&E Air Conditioning in 2005 allowed the Company to diversify into Melbourne. In 2006 HST launched the Electrical Division by acquiring the Heyday Group. In 2006, HST acquired Gulf Engineering and North Sea Ventilation and expanded its marine offshore business. Hastie expanded its maintenance services businesses via takeover of EMAC Services in Queensland and diversified into industrial refrigeration by acquiring Gordon Brothers Industries.

Hastie diversified into hydraulics business through the takeover of CDC Plumbing in Melbourne in 2007 and secured its electrical business by acquiring Watters Electrical in Victoria and South Australia. In 2008 it acquired Beavis and Bartels and GTS Plumbing in Queensland and Nisbet & Durney in New South Wales. HST expanded into UK, the Republic of Ireland and the Middle East via acquisition of Rotary. Hastie Group was included to the S&P ASX200 index in 2009.