Palloys Group has added two Sydney-based businesses, Kashine and The Laser Guy, to its growing list of acquisitions in the precious metal services industry.
Established in 2008 by Stanley Loo and Maggie Hui, the businesses provide molding, casting and laser soldering services to the jewellery industry.
Announcing the acquisition, Palloys Group managing director Andrew Cochineas said the company was pleased to welcome The Laser Guy into “the Palloys Group family”.
“Kashine and The Laser Guy are respected service providers in the market. Their contribution to Palloys Group emphasises our commitment to providing the best product and the best service to the Australian jewellery manufacturing and retail industries.”
Under the acquisition, Loo and Hui will “bring their years of experience in quality product and service” in new roles at the Palloys Group.
Loo has been appointed group team leader of the fully-finished jewellery division with the mandate “to continue the growth of Palloys Group capabilities both here and offshore” while Hui has been appointed office assistant in the Sydney office to handle clients lasering requirements and answer queries regarding jewellery repair and casting jobs.
Loo said the couple had worked with Palloys Group over the last 18 months and “love the culture”.
“They have a real desire to support the industry and give its participants the best,” he said.
“We hope to continue to provide the service and product that Maggie and I are renowned for but at the same time expand the Palloys Group service offering, particularly in finished jewellery.
“From all accounts, it’s business as usual and all of our Kashine and Laser Guy pricing will remain the same.
“Our clients will still be dealing with me and Maggie, but now with the support of Palloys Group, we are able to offer our clients so much more.”
Palloys Group, the largest precious metal services group in Australia, is comprised of Palloys, AGS-PGW, Regentco and Goldenage International.