The Contractors
NRW has completed its acquisition of RCR Tomlinson’s RCR Mining and RCR Heat Treatment businesses after the company went into voluntary administration late last year.
Almost 300 employees at RCR’s Welshpool, Bunbury and Victorian locations received offers of employment with NRW to ensure a quick transition and minimal disruption to clients.
Perth-based administrator and McGrathNicol partner, Rob Brauer said the acquisition was a great outcome and secured the future of much of the original RCR Tomlinson business that was established more than 100 years ago.
“The sale ensures the RCR name remains prominent in the WA market and provides continuity for RCR customers, as they will continue to be serviced by the same expert RCR teams,” Mr Brauer said.
NRW’s managing director and chief executive Jules Pemberton said the company was pleased to acquire RCR Mining, especially its RCR Mining Technologies division which was recognised in the global market as a leading original equipment manufacturer (OEM) and innovative materials handling designer with an extensive product range.
“This acquisition delivers a complementary business to NRW and aligns with NRW’s strategy to broaden the service offering to Tier 1 clients at a time of improving market sentiments,” Mr Pemberton said.
“Since the announcement, NRW has received very positive engagement from clients who recognised the quality of the RCR Mining Technologies business and its people, together with the benefits the combination with NRW brings to their project objectives.”
The acquisition of RCR Mining was earnings accretive with the purchase consideration of $10 million (subject to certain completion adjustments) being funded from NRW’s existing cash reserves.
The deals followed the sale of RCR’s rail businesses to John Holland earlier that month, along with its energy services business to The Environment Group, and laser cutting business to Perth-based Unique Metal Works.
AvidSys Group had since snapped up the remaining parts of RCR’s WA operations, including its resources, power and Water West businesses.