Cardno buys BEC Engineering for $45m

Infrastructure services group Cardno has acquired Perth-based electrical engineering firm BEC Engineering for $45 million.

Cardno said the acquisition was expected to contribute around $35 million in revenue and $9 million in EBIT over financial year 2012.

The acquisition will be funded by a mix of 75 per cent cash and 25 per cent shares, issued at $5.52 per share.

BEC primarily focuses on the resources sector, providing electrical engineering services ranging from feasibility studies to product design, construction, commissioning and operations.

It employs around 100 people through offices in Perth, Brisbane and Tanzania.

Cardno managing director Andrew Buckley said BEC gave the company specialised electrical engineering expertise in mining and resources, an area which he said the company had planned to expand into for some time.

"BEC specialist services will also provide opportunities for further growth through cross selling with our other businesses," Mr Buckley said.

"BEC's focus on the resources sector gives Cardno greater exposure to a market that has significant growth potential over the next few years."