MACA has a $310m market value and shares last traded at $1.16 each.
It comes after Downer hired Macquarie Capital to sell its entire mining services business in August last year.
Downer has been looking to exit its mining services division because it is too capital-intensive.
The asking price for Downer Mining was at least $500m.
Since Perenti walked away, Downer has broken up the portfolio and sold it off in parts.
Downer recently announced it had sold its blasting business for $62m to Enaex, a subsidiary of Chilean company Sigdo Koppers.
Downer has also sold its blasting services business, Snowden Consulting, and its share in the RTL Mining and Earthworks joint venture.
The company has said that it was in active discussions about the rest of its mining services portfolio.
It comprises four components — Open Cut East, Open Cut West, Underground and Otraco, which is a specialist tyre management business.
In Western Australia, Downer has contracts with major mining groups including Fortescue Metals.
MACA is led by chief executive Mike Sutton.
Clients include Regis Resources, Ramelius and Pilbara Minerals.
It provides services in the areas of mining, civil and infrastructure maintenance and has $2.3bn worth of work in hand.
It also has an international mining services operation but recently ceased operations in Brazil, which had been impacted by the softening coal price.
While mining services conditions in WA are buoyant due to the rising price of commodities such as gold and copper, MACA reported a $17.4m bottom line loss during 2020 after it was weighed down by its international arm.
This is despite a lift in revenue to $808m and earnings before interest, tax, depreciation and amortisation to $120.4m for 2020.
MLD Price at posting:
$1.16 Sentiment: None Disclosure: Held
