On 13th April 2017 the Board of HRL Holdings Limited completed the acquisition of OCTFOLIO, an Australian-based specialised software vendor focused on the development and implementation of:
- Information management software solutions for asbestos and hazardous materials;
- Innovative field management software solutions; and
- Customised compliance solutions and applications relating to workplace health and safety.
OCTFOLIO provides the following services:
- Hosting of HAZMAT compliance data and registers;
- Quality management systems;
- Laboratory management systems;
- Field surveying tools;
- On demand programming services;
- Data migrations; and
Acquiring OCTFOLIO enhances HRL’s strategy to provide niche environmental consulting services to large asset portfolio owners who require the ability to manage their compliance registers.
HRL CEO Steven Dabelstein commented that “We are very excited to welcome the OCTFOLIO team into the HRL Group. OCTFOLIO is a versatile and adaptive application that provides asset owners the control and insight to their portfolio which is currently lacking from traditional paper based systems.”
“The OCTFOLIO suite enables HRL businesses to position themselves as offering industry best practice solutions to our clients with larger asset portfolios – the key target market segment for our compliance activities.”
“Having a technology product that is cashflow positive, profitable and scalable fits within our strategy to invest in niche market segments of environmental technical services. Future HRL services or laboratory based acquisitions benefit from access to both the OCTFOLIO platform and the customer base”.