Argonaut acted as Financial Advisor to the $6.4 million acquisition of Ausblast and Joint Lead Manager to the accompanying $4.3 million Placement for Babylon Pump & Power Ltd (BPP:ASX). Ausblast is a specialised mining services business providing high-pressure water blasting to Tier 1 clients in Western Australia The company is committed to fostering a corporate culture that is fair and inclusive and embraces and promotes diversity among its employees, consultants, senior management and Board.

Babylon Pump & Power Ltd gained the Australian Stock Exchange and shareholder approval to change their ASX code from “IMI” to “BPP” in 2018.  In 2019, the amalgamation of Babylon Pump & Power Ltd and Primepower Queensland enabled the company to provide a total solution for specialist equipment rental, diesel engines, diesel rebuild, diesel maintenance and project support. The business provides diesel requirements in the mining, industrial and oil and gas sectors. They also provide maintenance and rebuild services for diesel-driven equipment and rental of specialty diesel-driven pumping and power generation equipment.