Perenti to sell mining equipment business to Beetle for $71m

Mining services group Perenti has agreed to sell its mining equipment rental and parts sales business, BTP Group, to Beetle Industries for a total of A$100m ($71.1m). Beetle Industries is an investment vehicle backed by a consortium led by Cratus Group, a company active in resources, logistics, structural capital and infrastructure sectors across Australia and Asia.

The deal includes an upfront payment of A$80m at closing, with an additional A$20m payment due 12 months later. Completion of the transaction depends on Beetle finalising funding arrangements and obtaining necessary consents and approvals. Perenti CEO Vanessa Torres stated the sale aligns with the company's strategy to focus on higher-return areas and maximize shareholder value. The deal is expected to close by the end of October 2026.