Dec 10, 2019

BGC Contracting takeover a done deal for NRW Holdings

BGC Contracting takeover a done deal for NRW Holdings

NRW Holdings has completed the acquisition of BGC Contracting, which will be renamed as NRW Contracting.

The NRW Holdings stable of mining and civil contracting services also includes drill and blast service provider Action Drill & Blast and Queensland-based Golding Group, which it snapped up in 2017 for $85 million.

NRW managing director Jules Pemberton welcomed the completion of the transaction, along with a 2300-strong workforce joining the company from BGC.

NRW managing director Jules Pemberton.

“We look forward to leveraging our many years of combined experience, to position NRW as a provider of choice across the sectors in which we operate,” Mr Pemberton said.

“With the broader capabilities acquired through BGC Contracting, NRW has built a stronger platform that differentiates us from our competitors and allows us to meet the evolving needs of clients in the future.”

The acquisition gave BGC Contracting an enterprise value of $310 million.

BGC Contracting’s DIAB Engineering business will continue to operate under its existing name and ABN.