15/01/2021 - 11:11

ASX listing opens a new chapter in the GenusPlus Group story

15/01/2021 - 11:11

Bookmark

Save articles for future reference.

Publicly listed in December last year following a successful IPO, the GenusPlus Group leverages the valuable long-term relationships and industry expertise accumulated through three generations of electrical contracting experience to provide critical infrastructure services to a blue-chip client base across Australia.

Publicly listed in December last year following a successful IPO, the GenusPlus Group leverages the valuable long-term relationships and industry expertise accumulated through three generations of electrical contracting experience to provide critical infrastructure services to a blue-chip client base across Australia.

David Riches is a third-generation electrical contractor and Managing Director of GenusPlus Group (ASX:GNP) – a leading end-to-end service provider for essential power & telecommunications infrastructure.

Mr Riches established the Group’s core Powerlines Plus business in 2009, specialising in constructing and maintaining electrical transmission & distribution powerlines throughout remote Australia. Since that time, Powerlines Plus has grown - organically and through strategic acquisitions - to become one of the country’s leading providers of power infrastructure services. Powerlines Plus became part of the GenusPlus stable when the Group was established in 2018.

Today, the GenusPlus Group delivers integrated whole-of-project services through four key business segments:

  • Diamond – Underground Power & Telecommunications; from construction & maintenance to testing & commissioning
  • ECM – Electrical & Instrumentation; from mechanical fabrication & assembly to installation
  • Powerlines Plus – Overhead Power Infrastructure; from design, construction and maintenance of transmission & distribution lines to design & construction of substations
  • Proton Power – High Voltage Testing & Commissioning; from engineering management to construction, installation, commissioning & testing

With a current workforce of more than 500 people across Australia, Mr Riches emphasises that GenusPlus invests heavily into their training and development - building up a scale- permanent workforce of qualified lines workers and associated trades.

Given the shortage of these critical roles within the industry, Mr Riches says this provides the company with a crucial point of difference in the market - as well as allowing it to direct and retain the business’ strong performance culture.

As GenusPlus Group begins this new chapter as a listed entity, Mr Riches is excited by the prospects for growth – and the benefits this will have for the company’s broad client base.

“Our new listing will provide the Company with greater exposure and an increased brand profile, to the benefit of both clients and investors. It will also give us an enhanced capacity to fund future growth opportunities” he says.

“We have only recently entered the Queensland and New South Wales markets through foothold acquisitions in these states, and these markets represent meaningful opportunities to grow. We are focused on building our strong presence in WA and replicating this successful business model in the significantly larger east coast markets.

“Our listing on the ASX represents an exciting milestone - and we look forward to delivering value to our clients and shareholders”.

For more information, visit genusplusgroup.com.au


STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options