re: Ann: Acquisition by CGH Subsidiary Brown ... ACQUISITION EXPANDS CIVIL AND URBAN INFRASTRUCTURE SERVICES BUSINESS
Resources and Infrastructure engineering services company, Calibre Group Limited (ASX: CGH) (Calibre) today announced that its wholly owned civil and urban infrastructure services business, Brown Consulting (“Brown”) has expanded into Western Australia, with the acquisition of Perth-based E-Tec Consultants (“E-Tec”), a 21-person structural and civil engineering firm.
The acquisition marks a further milestone in Calibre’s ongoing strategy of expanding and diversifying its capabilities. It provides a direct market entry opportunity into Western Australia for Brown, delivering a national footprint for this business. Brown seeks to achieve further growth by focussing on growing E-Tec’s civil capability into the WA urban development market, leveraging Brown’s capability, reputation and client relationships.
E-Tec’s forecast FY2013 revenue is approximately $4.4m, and EBIT of approximately $1.0m. E-Tec has a strong pipeline of ongoing projects as well as a range of near term project opportunities.
Established in 1989, E-Tec’s portfolio of structural and civil engineering projects include commercial, industrial, health care, residential and government. E-Tec’s existing management, including Managing Director Mr Brett Lucchesi will remain with the business, with Mr Lucchesi becoming Brown’s Regional Manager for Western Australia.
E-Tech will transition to the Brown Consulting brand by the end of October 2013.
About Brown Consulting
Brown Consulting focusses on delivering infrastructure design solutions across Roads and Traffic, Urban Development (including Town Planning and Survey), Structural Engineering and Water and Environment services.
Brown Consulting has approximately 380 staff across nine offices in Brisbane, Canberra, Geelong, Melbourne, Rockhampton, Singapore, Sunshine Coast as well as Baulkham Hills and St Leonards, Sydney. Established in 1953, Brown has been a wholly owned subsidiary of Calibre Group since November 2011.
About Calibre Group
Calibre Group (ASX:CGH) (Calibre) is a leading diversified provider of engineering, consulting, project delivery, construction and asset management services to the resources and infrastructure markets in Australia and select international markets. With its origins in 2002, Calibre offers clients a comprehensive and integrated range of services from early-stage asset evaluation and project feasibility studies, through design, construction and delivery of major multi-year projects, to ongoing support, optimisation and maintenance of minerals and energy, rail and infrastructure assets.
Calibre provides its services across the asset lifecycle through key Group companies Calibre Global, G&S Engineering Services, and Brown Consulting.
Calibre’s growth strategy involves growing its existing mineral and energy, rail and transport and infrastructure businesses, and diversifying its geographic footprint, asset management services and end markets through both organic and acquisition-led growth to access quality, sustainable earnings. www.calibregroup.com
CGH Price at posting:
36.5¢ Sentiment: None Disclosure: Not Held
