Abergeldie Complex Infrastructure is acquiring New Zealand tunnelling and microtunnelling company, Harker Underground Construction, with the transaction expected to be finalised on 28 February 2017.
Abergeldie Complex Infrastructure has reached an agreement with Mike Harker, the son of Harker Underground Construction’s founder, Graeme Harker, to jointly purchase Harker Underground Construction Limited.
Under the agreement, Abergeldie will own 80 per cent of what will now be called Abergeldie Harker Limited, and Mr Harker will own 20 per cent.
Mr Harker said, “I am delighted that the Harker family will once again own a share of the business my father founded. My brother Phillip will also continue to be a key member of staff.
“I have known Mick Boyle and Abergeldie for around seven years and I have no doubt we will work well together and Abergeldie Harker will be very good for our employees and our clients and continue our father’s legacy.”
Abergeldie Founder and Executive Chairman, Mick Boyle, said Abergeldie was excited to invest in Harker, which had a strong reputation built over 30 years, good equipment and very capable people.
Mr Boyle said, “Most importantly for me Harker has a culture similar to that of Abergeldie, based on safety, innovation, hard-work, fairness and building better communities.
“Abergeldie is a leading shaft and tunnelling company in Australia. Harker is a leading tunnelling and microtunnelling company in New Zealand.
“The investment by Abergeldie in Harker will allow Abergeldie and Abergeldie Harker to share technical expertise, personnel and equipment. It will strengthen our tunnelling and shaft capabilities in both New Zealand and Australia and make us leaders in both countries.”
As well as shaft and tunnel construction, Abergeldie Harker will bring to the New Zealand market some of the niche capabilities that Abergeldie has developed, such as shaft sinking by blind boring, pipe relining, excavation by blasting as well as our capabilities in the water and rail sectors.
Matt Mules, Harker National Manager, has been appointed General Manager of Abergeldie Harker.