Takeover to expand leading port logistics operation
SOUTH Australian port operator Flinders Port Holdings’ subsidiary, Flinders Logistics, has acquired stevedore and logistics business Townsville Bulk Storage and Handling.
Flinders Port Holdings announced the 100 per cent buyout this week, retaining all staff and former owners Peta Connelly and Dewayne Can- non to manage the operation.
Flinders Port Holdings CEO Vincent Tremaine said they were interested in expanding their operations around the country and saw TBSH as a great fit.
“We’ve had a relationship with TBSH through some sharing of technology. We were very impressed with what TBSH does and how they go about it,” Mr Tremaine said.
“They are a lot like us in how they go about business.”
Mr Tremaine said the cultural alignment would help their expansion, while Flinders Port Holdings could provide the capital strength to help TBSH grow.
“We are an organisation that has access to capital,” he said. “It’s a combined effort to make the business bigger and better.”
Flinders Ports owns and operates seven ports in South Australia and the 350,000 container- a- year terminal at Adelaide.
Townsville Bulk Storage and Handling was formed in 2009 as a storage facility for bagged fertiliser.
The company has established itself as a leading service provider, offering a complete supply chain solution.
It developed 30,000sq m of storage space on port land in South Townsville, including four warehouses, providing 12,000sq m under cover, a new two- level 300sq m office building, a covered quarantine- approved wash bay and workshops.
In 2014 they acquired a $ 4.5 million German- made Leibherr mobile harbour crane to boost capacity.