08/11/2016 - 14:55

PDC Group attracts US buyer

08/11/2016 - 14:55

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Applecross-based PDC Group has entered into an agreement for the sale of its building information modelling management business to a US construction services firm for an undisclosed sum.

PDC Group attracts US buyer

Applecross-based PDC Group has entered into an agreement for the sale of its building information modelling management business to a US construction services firm for an undisclosed sum.

DBM Global, a steel construction services business and a subsidiary of diversified New York Stock Exchange-listed financial services firm HC2 Holdings, has agreed to buy PDC BIM, an offshoot of the engineering business.

Business News understands that DBM has also bought other assets from the group. It appears the majority of PDC’s subsidiaries are being wound up by WA Insolvency Solutions, but a spokesman for the administrator said it was premature to comment on the state of the business.

Australian Securities and Investments Commission records show the subsidiaries being liquidated are PDC BIM Pty Ltd, PDC North America Pty Ltd, PDC Detailing Pty Ltd, Precision Drafting Holdings Pty Ltd, and PDC Consultants Pty Ltd. 

“We’re still trying to determine the financial position of all entities across the group that we have been appointed to,” WA Insolvency Solutions principal Jimmy Trpcevski told Business News.

“We’ve only been appointed for a week, so it’s still in that elementary stage.”

PDC BIM’s iConstruct technology, which enables 3D elements from all areas of the construction, infrastructure and mining industries to be imported and integrated into a single 3D model, has been used at the new Perth Children’s Hospital, the new Perth Stadium, several of BHP Billiton’s iron ore mines, and even the new Apple campus 2 headquarters in California.

The technology is designed to help big organisations optimise maintenance and capital planning, scheduling and work execution.

Prior to the takeover, PDC employed 160 staff in Western Australia, according to BNiQ data.

DBM chief executive Rustin Roach said PDC’s detailing and BIM lines of business would continue to operate under the name ‘PDC Operations (Australia)’.

“Together we are creating synergistic platform of companies that offer structural building solutions for our clients inclusive of design services, as well as asset management solutions for building owners,” Mr Roach said.

“By growing and diversifying our scope of services, we are able to offer a much larger total value proposition to our customers, which, in turn, strengthens our ability to continue driving value for our shareholders.”

PDC chief executive Martyn Weir said the takeover was an important step in the company’s history.

“We believe this transaction will significantly benefit our business in many ways, including an enhanced relationship network that will help foster overall growth,” Mr Weir said.

“We offer a unique BIM management and modelling service that provides significant value to our customers and believe the transaction will allow us to further accelerate these services going forward.”

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