CFC Group acquires Bayswater firm

Bayswater-based utilities infrastructure business Underground Services Australia has been acquired by diversified conglomerate CFC Group.

The announcement is below:

Diversified conglomerate, CFC Group, today announced its acquisition of Underground Services Australia.

Underground Services Australia is widely regarded as one of WA's premier utilities infrastructure businesses specialising in design, installation and maintenance.

"Over the past 26 years the company has built up a reputation for providing customers with innovative utilities infrastructure particularly in the areas of gas distribution, communications networks, underground power distribution systems, street lighting and water and sewer mains installation and maintenance" said CFC Group Executive Chairman, Philip Cardaci.

Underground Services is a natural extension for the CFC Group, adding to their distribution and supply chain expertise.

"We have had an interest in the company for the past 12 years and see huge potential in bringing Underground Services Australia into the CFC Group," said Mr Cardaci. "By bringing the company into the Group we have the opportunity to capitalise on our experience in a wide range of markets".

In addition to Underground Services Australia, the CFC Group operates four businesses including Centurion, JCB Construction Equipment Australia, JCB Ag Equipment Australia and SDF Landgear. The Group has locations in every major capital city around Australia, an office in New Zealand and several strategically located operations in the rapidly growing north-western region of WA.

"The CFC Group is very pleased that Underground Services Australia founder Peter Rowles has agreed to stay on in a business development role. We also welcome George Bauk as Executive General Manager whose role it will be to integrate Underground Services into the CFC Group and maximise the growth potential of the organisation."