M&A Deal Summary

Broadspectrum Pty Acquires Easternwell Group Pty

On December 13, 2010, Broadspectrum Pty acquired electrical equipment company Easternwell Group Pty from Ironbridge Capital for 575M AUD

Acquisition Highlights
  • This is Broadspectrum Pty’s 1st transaction in the Electrical Equipment sector.
  • This is Broadspectrum Pty’s 0th largest (disclosed) transaction.
  • This is Broadspectrum Pty’s 3rd transaction in Australia.

M&A Deal Summary
Date 2010-12-13
Target Easternwell Group Pty
Sector Electrical Equipment
Buyer(s) Broadspectrum Pty
Sellers(s) Ironbridge Capital
Deal Type Add-on Acquisition
Deal Value 575M AUD

Target

Easternwell Group Pty

Brisbane, Australia
website
Easternwell Group Pty Ltd. is a provider of well services and well construction business, focused on the mining, oil & gas and infrastructure sectors. It provides mainly production-focused, high margin services both earlier in the asset lifecycle and throughout the production phase. Key services include well servicing and maintenance activities, coal seam gas (“CSG”) drilling, production-related iron ore mine dewatering, backfill drilling, near-shore geotechnical drilling and dam remediation services.

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Buyer(S) 1

Buyer

Broadspectrum Pty

North Sydney, Australia

website

Category Company
Founded 2001
Sector Business Services
Revenue 3.7B AUD (2013)
DESCRIPTION

Broadspectrum Pty Ltd. is a provider of essential services to critical community assets and infrastructure. The company's approach integrates a focus on optimizing performance, integrity, and output of clients’ businesses and assets to deliver real business outcomes safely and responsibly, with a diverse, collaborative and caring workforce. Broadspectrum was formed in 2001 and is based in North Sydney, Australia.

DEAL STATS #
Overall 6 of 6
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 5 of 5
Country (Australia) 3 of 3
Year (2010) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-17 VMS

Richmond, Vermont, United States

VMS, Inc. is a provider of operations and maintenance services for road transport infrastructure and associated facilities for the State Departments of Transportation in Virginia, Florida, Texas, Alaska, Maryland and in Washington DC.

Buy $30M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-18 USM Services Holdings

Norristown, Pennsylvania, United States

USM is a provider of essential facilities maintenance services, including interior and exterior services and electrical, mechanical and plumbing services, to national and regional commercial customers that typically maintain more than 100 sites across wide geographic areas.

Sell $255M

Seller(S) 1

SELLER

Ironbridge Capital

Sydney, Australia

Investor Investor Investor

website

Category Private Equity Firm
Founded 2003
PE ASSETS 1.5B AUD
Size Large
Type Sector Agnostic
DESCRIPTION

Ironbridge Capital is a middle-market private equity firm that targets growth capital and buyout investments in Australia and New Zealand. Ironbridge focuses its investment activity within the services sector and targets businesses with the potential for strong and sustained growth in revenue and profitability. Ironbridge Capital was formed in 2003 and has offices in Sydney and Auckland.

DEAL STATS #
Overall 5 of 9
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 4 of 6
Country (Australia) 4 of 6
Year (2010) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-01 Global Renewables

Sydney, Australia

Global Renewables operates an Alternative Waste Treatment facility (“AWT”) at Eastern Creek in Sydney. The AWT processes up to 195,000 tonnes of putrescible municipal waste per annum (to be expanded to 220,000 tonnes this calendar year), and diverts around 60% of waste away from disposal into landfills. The diverted waste is primarily converted into compost. Global Renewables is based in Sydney, Australia.

Buy AU$57M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-01 Australian Offshore Solutions

Fremantle, Australia

Australian Offshore Solutions operates across crew vessel chartering and maritime consulting services. OMA owns and bareboat charters (without crew) two anchor handling tug supply (AHTS) vessels. Australian Offshore Solutions is based in Fremantle, Australia.

Buy -
Mergr

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