Calibre buys out Melbourne's Minerva

Engineering and project delivery firm Calibre Global has ramped up its eastern states expansion with the acquisition of Melbourne-based Minerva Engineers for an undisclosed sum.

Calibre said the acquisition was a key step in its expansion drive, which would give the company a strategic foothold in south east Australia.

Minerva's client list includes BHP Billiton, Rio Tinto, Fortescue Metals Group, Lieghton Contracts, and Barrick Gold, among others.

Minerva's five founders will remain with the company in key management and technical leadership roles, while its 70 staff will join Calibre's 1,200 employees.

Calibre Global managing director Rod Baxter said it would be "business as usual" for the Minerva team and its clients.

"This is a very strategic acquisition which provides Calibre with the opportunity to leverage Minerva's engineering expertise and associated market reputation; build a presence in Melbourne to service South Eastern Australian market opportunities; increase the depth of resources and capability available to our clients; and broaden Calibre's client base," Mr Baxter said.

The expansion follows Calibre's announcement in February that it would buy Engenium out of the remaining 50 per cent of the Calibre Engenium Rail Joint Venture in February for $29.9 million.

"We see this as another key step in Calibre's growth story and it follows our acquisitions over the last 6 months of Brisbane-based engineering and project delivery service provider Joharko, and more recently, mining and geological consulting firm Xstract Mining Consultants," Mr Baxter said.

The privately-owned, Perth-based Calibre reported revenue of $203 million in 2010, and operates offices in Brisbane, Perth, Adelaide, and Mongolia, along with the new Melbourne office formed from the Minerva acquisition.