NRW Holdings has sealed a deal to acquire 100 per cent of BGC Contracting at a cost of $310 million.
The company is preparing an institutional placement to raise $120 million as part of the move, in addition to a share purchase plan capped at $10 million.
The aquisition cost includes $116.4 million in cah for the equity of BGC Contracting and $193.6 million of debt related to asset finance.
BGC Contracting provides services to the resources, energy and infrastructure sectors across three core businesses: mining, construction and DIAB Engineering.
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.