Resource Capital Funds sells Brisbane-headquartered Ausenco to US suitor for $900 million
Jordan MurrayThe West Australian
Fri, 22 September 2023 4:26PM
Ausenco built the copper concentrator currently in use at BHP’s Carrapateena mine in South Australia. Credit: METHODE
Resource Capital Funds has offloaded Brisbane-based engineering firm Ausenco to a US-based private equity firm in a deal valued at $900 million.
RCF invested in Ausenco in 2014 before taking it over and delisting it in 2016, when the company was valued at $150m.
The company has built copper concentrators currently in use in Chile and Peru as well as in South Australia, where it was responsible for the facility at BHP’s Carrapateena mine.
Ausenco employs about 3000 staff.
RCF managing partner James McClements, who is best known as chair of Mineral Resources, said the fund’s investment in Ausenco displayed “the strength and differentiation of (its) investment strategy”.
“Ausenco’s innovative culture aligned well with Resource Capital Funds, and the benefits of our relationship cannot be measured purely in financial terms,” he said.
“This is a fantastic outcome for all parties involved, and we wish Ausenco continued success.”
The deal is expected to be finalised towards the end of the year.
