DPSA Group managing director Neill Clur said this major financial deal was a mark of confidence in the rapidly growing DPSA group and demonstrated continued optimism in the mining resources sector.

“We have an exciting growth strategy - the funding will allow DPSA to make strategic acquisitions and assist with working capital and asset financing,” said Mr Clur.

“The funding has already been used to acquire Globe Compressors in a $2.5million deal - signed in June 2007 - which is a very exciting addition to the DPSA group.

“This is the second acquisition in 12 months – last year we acquired the very successful company, Power Electric Switchboards,” Mr Clur said.

He said the DPSA group was delighted with the successful outcome of negotiations with NAB – the company’s banker since its inception in 1997 - and Investec.

Investec’s Tim Wilson said: “DPSA presents as the perfect opportunity for Investec’s style of funding. In Neill Clur we are backing a proven entrepreneur with funding designed to accelerate DPSA’s growth plans, but at a pace beyond what would be possible by traditional financing means.

“Together with NAB we tailored a funding solution that should see DPSA through the next couple of years growth, and effectively double in size.”

NAB’s Martin Dean said DPSA had been a client of NAB for 10 years.

“We have continually been impressed by Neill and his team. Throughout the years of our partnership, we have seen DPSA grow from a small business to what is now a diversified group of companies with enormous potential. NAB is privileged to have played a key part in DPSA’s growth strategy and looks forward to continuing to assist the group’s expansion,” said Mr Dean.

Mr Clur said further acquisitions as well as organic growth were expected to boost profitability of DPSA in the next 12 months.

Companies under the DPSA banner are DPSA Contracting, DPSA Engineering, DPSA Mining Products , Power Electric Switchboards and Globe Compressors.