Global Energy Group Makes Further Inroads into Australian Market
Energy sector services company Global Energy Group Ltd (GEG) continues to grow its presence in Australia after this month making a fourth acquisition in the country since late 2011.
With its latest move, GEG has acquired the Australian arm of Cunningham Construction Ltd. from its parent company in New Zealand with the same name.
The purchase of Cunningham adds to a diverse portfolio based in Perth, Western Australia that since September 2011 has included the acquisitions of inspection specialists Vertech, GRN Australasia Ltd. (rebranded to Global Resources), and fabrication specialists Oil & Gas Engineering.
With revenues now exceeding $100 million, Australia has become GEG’s second largest market next to the United Kingdom and a key driver of the company’s substantial growth globally since 2005. A wholly owned Scottish company based in Inverness, GEG has also been rated as one of the fastest growing companies in the UK.
Not satisfied yet, GEG is planning to continue its exponential growth in Australia, with global Asia Pacific regional director David Calder explaining it was on track to expand further in the first half of 2014.
“We are looking to broaden our horizons in the fabrication space and we have invested quite extensively into our key personnel in the region through the previous acquisitions,” Calder told Rigzone.
“We are quite advanced through a due diligence process and what we are looking for at the moment is further growth in WA in the fabrication space, in particular.”
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