Majority shareholder Soul Pattinson has bought out Hunter-based electrical engineering company Ampcontrol.
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The investment house has held a majority share in Ampcontrol since 2005 and will acquire the stakes of other investors, including co-founder Peter Cockbain.
Ampcontrol is based at Tomago and has operations in Cameron Park, Thornton, Warabrook and Warners Bay.
It employs 850 people in 30 operations in Australia, Hong Kong, Singapore and Mongolia. Its Hunter workforce numbers 680.
The firm's name is emblazoned on the front of the Newcastle Jets' away jerseys.
Ampcontrol said in a media statement on Tuesday that the acquisition would have no impact on trading, branding, orders, workforce, sponsorships or operations.
It said the buy-out "backs strategic plans for growth and expansion in renewable energy manufacturing to support the transition to a low-carbon economy".
The company designs and manufactures high-voltage transformers, substations, self-powered water purification units, hydrogen energy storage systems and other cutting-edge technology for the resources, infrastructure and energy sectors.
Mr Cockbain and Neville Sawyer, Keith Grant and Tony Studdert started the firm in a small shed in Newcastle in 1968. Prime Minister Scott Morrison toured the company's Tomago headquarters in November.
The new owner, whose full name is Washington H. Soul Pattinson, has significant investments in natural resources, building materials, telecommunications, retail, agriculture, property and corporate advisory.
Ampcontrol managing director and chief executive officer Rod Henderson said the acquisition marked a new era for the company.
"The increased investment by WHSP cements ongoing commitment to our strategic business plan for the continued growth of our business," he said in the media statement.
Soul Pattinson managing director Todd Barlow said Ampcontrol was "uniquely positioned to capitalise on the decarbonisation thematic with its people, technology and services".