The consortium led by Esperança Timor Oan (ETO), a Timor-Leste based oil and energy company, bought BLK operator World Rugby Specialists for an undisclosed sum.
World Rugby Specialists and World Rugby Specialists Group went into receivership in November partly due to an overinvestment in unprofitable sponsorships of professional sports teams.
It had major club sponsorship deals with the Gold Coast Titans and Gold Coast Suns as well as making dozens of in-kind contributions to grassroots clubs all over the Gold Coast.
ETO Executive Director Nilton Gusmão dos Santos said the purchase was in line with ETO’s plans to expand beyond the energy sector.
Mr dos Santos said the BLK business would be housed within a new company, BLK International.
BLK International will retain the existing BLK executive team and senior management, including Tyron Brant, chief executive since 2014.
Mr Brant said the major loss to the BLK business had been its supply contracts to four major Australian football teams and a rugby team.

“Despite the clubs terminating their arrangements with BLK, BLK International is confident that it will be able to replace that lost business over the medium term once it has rebuilt confidence in the brand,” he said.

WRS grew rapidly in recent years, opening offices in Japan, UK and US and factories in Fiji and China.

It had 80 staff at its Helensvale head office, a factory in Fiji with 130 workers and 25 sales representatives around the world.
The company was dealt a blow in February when Cyclone Winston struck Fiji, causing extensive production delays. Its factory was unable to resume full production until May.