Karlka Developments is set to more than double its annual turnover to $35 million after acquiring Perth company FenceWright for an undisclosed sum.
Indigenous-owned Karlka, established in 2012, is the commercial arm of the Karlka Nyiyaparli Aboriginal Corporation, which represents the Nyiyaparli people of the east Pilbara.
It places a focus on training and employment, and generates about $15 million in annual turnover through its subsidiary organisations and joint venture partnerships across the areas of facilities management and recruitment.
FenceWright was established in Perth in 2010 and provides the design, supply and installation of fencing solutions for industrial, government and commercial clients.
With an annual turnover of about $20 million, it also operates out of an office in Brisbane, and is currently in the final stages of completing a fencing contract at the new Perth Stadium.
Karlka chief executive John Valuri said the acquisition target was the right fit as it provided multiple benefits for the Nyiyaparli community.
“We want our entire community to take advantage of the opportunities FenceWright will deliver to the Nyiyaparli people,” he said.
“These acquisitions allow our community to gain on-the-job experience in a range of skilled and unskilled roles.
“This is about actively creating the future we want. To be independent and creating our own employment opportunities.”
Mr Valuri said the FenceWright acquisition was the first of more to come.
“We are excited by the opportunities this provides our team in now being a 100 per cent Aboriginal-owned business,” he said.
“Our employees, management, suppliers and subcontractors remain the same, but the new opportunities now available to us are certainly exciting.
“It will only enhance our business.”