Transport logistics specialist Orcoda has completed a $5 million takeover of the Betta Group of Companies, founded in Rockhampton in 2005.
Betta is a long-standing transport services business specialising in rail, road and air infrastructure power services contracting but also contracts for services in oil and gas and mining projects.
Announcing settlement on acquisition of 100 per cent of the shares in Betta, Orcoda said Betta was exposed to growing infrastructure markets in Central Queensland – which were likely to realise further growth as government stimulus measures rolled out.
Commenting on completion of the acquisition, Betta Group founder and managing director Geoff Williams said the majority of the company’s contracts were remote and would benefit from Orcoda’s software, contracting and management expertise in managing workforce, vehicles, plant and equipment.
“The acquisition of Betta and the collaboration between the companies will add significant value and efficiency to the BCG business and has the potential to also enhance profitability,” he said.
“Multiple major infrastructure projects are pending across road, rail and air in Central Queensland, and with Orcoda and Betta working together, we will be well positioned to win a lot of the work on these projects.”
Betta achieved $9 million revenue and EBITDA of $2.1 million in FY20 and $2.5 million revenue for the first quarter of this financial year.