Engineering and infrastructure services company Calibre Group has acquired Queensland-based engineering and planning group Echelon Mining Services.
Calibre announced the acquisition of privately-owned Echelon by its subsidiary Xstract Mining Consultants this morning, saying the purchase was in line with its strategy to build its capabilities in asset management and specialist mine engineering.
Terms of the transaction were not disclosed. Echelon achieved revenue of around $8 million in financial year 2012 and counts BHP Billiton, Rio Tinto and Thiess Australia as some of its flagship clients.
Calibre managing director Rod Baxter said the acquisition would add depth to the group’s service capability.
“In addition to diversifying Xstract’s revenue base into longer-term earnings streams, we expect Echelon’s mine operations networks to open additional opportunities to further grow Calibre’s geological, technologies, mining and geotechnical divisions.”
At close of trade today, Calibre stocks were down 0.9 per cent, trading at $1.07.
