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AusGroup pays $15m for Modern

KWINANA-BASED AusGroup is set to enhance its service offering and expand its geographical reach after acquiring scaffolding business Modern Access Services for $15 million. AusGroup (AGL), through its wholly owned subsidiary Ausclad, will pay $10 million cash and issue $5 million worth of shares to Modern’s three joint venture owners, including Modern Industries Holdings. Modern Access Services (MAS), incorporated in early 2008, currently has operations in Australia, Singapore and Thailand, a country that Singapore-listed AGL has no presence in. The company’s client list includes Woodside, ExxonMobil and Chinese outfit MCC Mining. AGL chief executive John Sheridan said the company has been on the hunt for acquisitions for some time and the merger with MAS would provide customers with an integrated service. “MAS and AGC are now better positioned to offer our clients a more integrated and streamlined service offering in both construction and asset support operations across the oil and gas and mineral resource markets,” he said. Mr Sheridan added that the MAS acquisition would nearly double AGL’s order book from $203 million to $455 million, with a strong pipeline of contracts for the next three years. The acquisition is subject to certain conditions and barring any unforeseen circumstances, AGL expects to complete the merger on May 25

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Total value of current WA projects

61st-AusGroupNFP
98 construction companies ranked by total combined value of current WA projects ($)

Employees

4th↓CPB ContractorsNFP
5th↑SNC-Lavalin2,200
6th↓AusGroup2,000
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8th↑UGLNFP
93 contractors ranked by total staff in WA

Engineers

39th↓Norman Disney & YoungNFP
40th↓SRK Consulting50
41st↓AusGroup49
42nd-Scope Australia45
43rd↓Pritchard FrancisNFP
147 engineers ranked by number of engineers in WA

Employees

1st-AusGroup2,000
3rd-Midland Brick350
4th-Cockburn Cement310
5th-Orontide280
6th-Evolution Commercial180
120 manufacturing ranked by total staff in WA

Number of Employees

Engineers

2ndDowner3,000
3rdSNC-Lavalin2,200
4thAusGroup2,000
5thUGL1,350
6thLaing O'RourkeNFP

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