Alceon buys 50pc stake in Inverell’s BOSS Engineering

Grain Central, April 5, 2024

BOSS Engineering manufacturers machinery including aircarts at Inverell. Photo: BOSS

AUSTRALIAN investment manager Alceon Private Equity is to become a joint owner in BOSS Engineering as it enters its next growth phase.

BOSS Engineering was formed in 2007 in Inverell in northern New South Wales, initially to produce truck bodies.

In 2011, the business expanded to include BOSS Agriculture equipment, which produces broadacre planters, row-crop machinery, air seeders, and spare parts, in use across Australia.

The BOSS workshop now covers 32,500m2 and uses 27 robots to complement the work done by its staff of more 220 people.

“The partnership with Alceon PE will empower BOSS to solve more problems for our customers and increase employment throughout Inverell and other locations, such as our newly established Wagga site and soon-to-open Tamworth and Toowoomba sites,” BOSS Engineering chief executive officer Nathan Barnett said,

The partnership with Alceon marks the first institutional capital injection for BOSS, and will support its growth both geographically and by accelerating its capacity to introduce new products.

“This partnership with Alceon will allow us to materially grow the business and to accelerate that growth timeline,” Mr Barnett.

“Alceon brings growth capital and scaling experience that complements our core capability of
engineering excellence.

“Importantly to us as hands on business owners and managers, Alceon structures each investment as a separate vehicle as opposed to a large multi-investment fund which means we are not beholden to fund closure timetables.

“The investment will provide the funding to allow BOSS to accelerate new product development and
increase productive capacity by investing in new machinery, robots, infrastructure and our people.”

A BOSS air seeder en route to Western Australia in time for planting last year. Photo: BOSS

BOSS also manufactures ute trays, service bodies, trailers and accessories under the BOSS Built brand.

Alceon Group joint managing director of private equity Zac Midalia described BOSS as “an Australian
success story of global proportions.

“The entrepreneurial, engineering led and robotic focus has created a culture of excellence and performance,” Mr Midalia.

“The result of this has rewarded these remarkable founders and this incredible company and we are grateful to be part of the next chapter of growth as we take Boss Engineering to the nation.”

Three BOSS Engineering founders, Mick Grills, Andrew English and Dan Ryan, will stay in the
business to ensure it continues to deliver outcomes for customers, and maintains its close relationships with employees and its customers.

Alceon’s Ben Sebel will join the BOSS Board and, together with the founders, will oversee the businesses’ growth plans.

Alceon Group invests capital for individuals and institutional clients across asset classes
including real estate, private equity, credit, and liquid markets.

Source: BOSS Engineering


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