Western Australian-based NRW Holdings is acquiring Golding Group for $85 million.
The company said the acquisition was part of its strategy to expand presence and service offerings into adjacent and complementary sectors with a Tier 1 client base.
“The business is highly complementary to NRW and with a well-recognised brand, represents an attractive platform for our company’s further expansion into the growing East Coast civil and infrastructure markets and coal and metalliferous mining sectors,” NRW chief executive officer and managing director Jules Pemberton said.
“We are excited by the opportunities ahead for the expanded NRW to leverage the additional capabilities and regional strengths across the combined group and further capitalise on our strong market position in a rapidly consolidating sector.
“There is a strong cultural alignment between our businesses. Together with our combined workforce of nearly 2000 people supporting more than 40 projects around Australia, we are well placed to offer a diverse range of services and project solutions to clients across the infrastructure, resources and urban sectors.”
Golding’s management team will remain in the business under NRW ownership. The transaction is expected to be finalised by the end of tyhe month.
Stanmore Coal is among Golding’s mining clients, with the group acting as mining contractor at Isaac Plains (pictured) near Moranbah.
Company secretary Ian Poole said Stanmore had been assured by NRW and Golding management that Golding would continue to operate under its own brand and it would be business as usual at Isaac Plains.
The NRW group now consists of Western Australian-based contractor NRW Civil and Mining, Perth-based manufacturing and maintenance service provider AES Equipment Solutions, Queensland-based civil and mining business Golding, and drill and blast service provider Action Drill & Blast.