|Deal completed in:||8 months|
A highly successful Engineering and Construction company with an exemplary track record in designing and constructing industrial and commercial buildings across Australia and several other countries around the world. The company was formed in 1977 and has been a pioneer of certain structural long span steel structures within and is experiencing its strongest growth period since the company was formed with turnover of over AUD $26m in 2013.
The principal owners of the business were a man and wife team who had provided the executive leadership of the business since inception. Both owners were over 70 years old and were committed to full retirement but wanted to ensure that the business was marketed internationally as well as discreetly but also fully marketed in the Australian construction and engineering Sectors.
What Hornblower did
We undertook a comprehensive international marketing campaign as well as directly targeting major construction and engineering companies in Australia and New Zealand. Following this we engaged with all the construction and engineering related buyers on our database and from this activity were able to shortlist 3 potential buyers who had the means to make the acquisition.
Despite the relatively flat recent market in the Australian construction and engineering sectors we were able to agree a deal quickly with a highly established Australian corporation who were seeking to gain a foothold in the Queensland territory and were attracted to our clients business particularly due to its strengths in certain niche sectors.
Deal Completed – March 2014