Orcoda acquires transport services business Betta Group for $5M

Transport logistics and services company Orcoda Limited has announced its purchase of Betta Group of Companies (BCG) for $5 million.

Formed in Queensland in 2005, BCG is a transport services business for rail, road and air infrastructure power services contracting. The business also did work for services in oil & gas and mining projects.

BCG has done significant work in transport infrastructure related projects across rail, road and air, providing power services for companies such as Aurizon, Ergon Energy, Queensland Rail and more.

The company has an ‘essential service’ status and there for is exposed to growing infrastructure markets in central Queensland, following considerable government stimulus for major infrastructure projects.

BCG achieved $9 million in revenue and an EBITDA of $2.1 million in FY20.

The total consideration for the transaction is expected to be $5 million, paid as a combination of securities and cash.

Geoff Williams, Betta Group founder and Managing Director said the majority of Betta’s contracts are remote and will benefit from Orcoda’s software, contracting and management expertise in managing our workforce and our assets (vehicles, plant and equipment).

“The joining of our businesses will add significant value and efficiency to the business and enhance its profitability. There are multiple major infrastructure projects coming up in road, rail and air in Central Queensland and a combined Orcoda/Betta business will be well positioned to win a lot of these contracts,” he said.

Geoff Jamieson Orcoda Managing Director said Betta Group is a perfect fit into our Resource Logistics division, our contracting methodologies are the same.

“Once a contract is won, we will both manage the contract utilising our management skills in managing workers, assets and utilise our existing ‘best in class’ software to optimise the project outcomes and deliver better value for our customers. Betta’s ISO qualifications will enhance the newly merged entity’s ability to win new infrastructure projects,” he said.