BGC Contracting buys Geraldton business

The mining and civil arm of BGC will add 500 employees to its team of 1,220 after acquiring Geraldton-based DIAB Engineering for an undisclosed sum.

BGC Contracting said today it had fully acquired family-owned Diab, an established industrial maintenance and fabrication services business focused on the resources sector.

BGC Contracting chief executive Greg Heylen said Diab would continue to operate with a high degree of autonomy under its existing brand.

“In the past year we’ve had a number of successes in our wider diversification and growth strategy, which encompasses broadening our geographical spread and expanding the commodities and sectors we operate in,” he said.

“We see the facilities management and maintenance stream as a natural extension to our core business, and a significant growth area.

“The acquisition deepens our service offering, with Diab’s specialist capabilities including construction, industrial maintenance, manufacturing, and equipment hire.

“Diab’s Geraldton location also appealed to us. The City of Geraldton offers great service and logistics infrastructure and good access to major mining operations.”

Mr Heylen said the two companies had a similar client-centric culture and approach to service delivery that came from being family owned.

Diab chief executive Glen Payne said he was pleased the business, which was co-founded by his parents David and Anne Payne in 1970, had attracted a buyer like BGC.

“My parents and their partners Ian and Betty Shields, and all the DIAB staff, have worked really hard to build DIAB into the successful company it is today,” he said.

“I’m really pleased we have reached this milestone agreement with BGC Contracting. 

“I think it is safe to say we hit it off from the start and there were obvious synergies in both companies’ values. 

“For our team of more than 500 people and the Mid West community, it’s a great outcome for them to be part of the BGC family.”