Brisbane-based freight rail investor ATEC Rail Group (ARG) is set to acquire Global Infrastructure Group (GIG), with the acquisition expected to be complete by the end of August.
The two businesses have definitively agreed for the rail investor to acquire 100% of the issued share capital of GIG, which has significant operations in Australia.
GIG is a construction, engineering and maintenance services provider for the transport, telecoms, multi-utilities, power and communications sectors, with its core capabilities in the provision of rail infrastructure design and construction and telecommunication network maintenance.
Global Infrastructure Group’s Australian-based founder and Chief Executive Officer, Ivan Holloway, said the acquisition was an exciting opportunity to incorporate GIG into the ARG business.
“Over the past 17 years, the Global Infrastructure Group has provided its customers and stakeholders a high level of service delivery and professionalism, offering services to both private and government sectors,” Mr. Hollway said.
“We’ve developed a reputation as a provider of customer-driven solutions, quality services to our rail and telecoms customers, and this aligns seamlessly with ARG’s core values and behaviours. We look forward to further expanding under ARG’s ownership,” he said.
ARG Managing Director John Balassis said the acquisition complements ARG’s purchase of rail services business Traxion in 2017 and provides further growth across the UK, Irish and Australian markets.
“Global Infrastructure Group will provide additional avenues to expand our rail services business with existing partners, and greater opportunities for spur line investment, train load-out investment and rail infrastructure enhancements and management,” he said.
Mr. Balassis said the GIG brand would be retained, and the existing leadership team and workforce would continue to lead growth in the rail infrastructure and telecommunication network maintenance and service markets.
The acquisition is expected to complete by 31 August 2018, upon the satisfaction of conditions.