Construction company Seymour Whyte has announced plans to acquire Rob Carr Pty Ltd (RCPL), a privately owned civil construction business specialising in underground utilities services.
The acquisition will create significant growth opportunities for the combined business through mutually beneficial platforms into new regions, new sectors, expanded product offerings and bigger projects.
Formed in 1989, Rob Carr Pty Ltd’s annual turnover exceeds $50 million. They possess specialist capabilities in conventional and trenchless pipeline construction, micro-tunnelling, deep shaft and service installations. These complementary civil construction capabilities in the water and power industries create an opportunity to offer an expanded project portfolio to the combined business.
RCPL currently operates in Western Australia, Queensland and New South Wales, adding to current presence while opening up opportunities in new regions. Rob Carr Pty Ltd has operated in Western Australia since 1996 and will increase Seymour Whyte’s exposure to this important growth market.
Seymour Whyte Managing Director, David McAdam said the acquisition aligns with Seymour Whyte’s strategic vision to expand geographic footprint, diversify into the utilities sector and enhance technical capability.
“Seymour Whyte reviewed more than 50 potential acquisition targets before proceeding with Rob Carr Pty Ltd. This is an exciting business that provides a range of new growth opportunities and offers a strong alignment of operating cultures and professional competencies,” he said.
“Seymour Whyte’s first acquisition will take us to where we want to be in the water and power utilities market. It will increase quality of earnings, and increase technical expertise in the growing micro-tunnelling market.
“We conducted extensive due diligence on Rob Carr Pty Ltd including personally visiting every current project site. This has allowed us to develop a tangible understanding of the business, and to forecast joint project opportunities out to FY2018,” he said.
The Rob Carr brand is well respected and recognised throughout the industry, therefore they will maintain their own corporate identity, and operate as a subsidiary of Seymour Whyte Limited.
Completion of the acquisition is anticipated to occur before mid-March 2014 as the parties work toward agreeing and signing definitive legal documentation.