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Vertech Group is proud to announce the majority acquisition of APS, a Victorian-based industrial services provider.
Despite the major challenges faced by many industries in 2020, this deal caps off a busy growth period for Vertech Group, having completed a series of strategic acquisitions and joint ventures across Australia and New Zealand in the past 18 months.
Founded in 2005, APS provides essential services to the East Coast infrastructure and power generation sectors. With a forecasted turnover of $70m and 240 employees, APS represents an important addition to the Vertech suite of companies, effectively doubling the size of the organisation and providing exposure to an infrastructure sector set to grow on the back of record Government stimulus.
Vertech Group Managing Director, Tom Brennan, commented that “This deal was an integral part of Vertech Group’s strategy to enter new vertical markets across Australia, in particular the infrastructure and power generation sectors, in which APS are well established as a market-leading service provider.”
“APS and Vertech Group are both leaders in their respective fields, with long track records of delivering quality outcomes on some of the nation’s most complex projects. The APS team’s growth story, people and customer focus is akin to our own and it’s immediately evident that they have achieved this by building a world-class management team.” said Mr Brennan.
APS Group Director, David Murray said “The founders and original directors of APS are extremely excited about becoming part of the Vertech Group and we are looking forward to what the future holds for APS. Being part of the Vertech Group will allow us to cement our commitment to our clients in providing innovation, safe and cost-effective solutions across all of our service lines. Utilising the national reach of the Vertech Group will also enable the APS Group to grow into new industries and regions across both Australia and New Zealand.”
The Groups rapid growth has largely been due to the strong support shown by the investment group, CWL, who in 2018 took an 80% ownerships in Vertech Group (this has since expanded to complete ownership). CWL Director, Alex Cesan, remarked “The investment in Vertech Group in 2018 was a milestone moment for CWL, establishing Australia as our largest centre of operations worldwide. Since then, we have maintained an aggressive expansion plan. The acquisition of APS is the next leap in the journey, establishing a strong operational core in Melbourne along with an entry into new markets. Australia continues to strengthen as a primary focus market and we look forward to the future with APS and the wider Australian market.”
In October 2020, the group acquired MMA’s Asset Integrity Division and followed this up in November with a Joint Venture with Blue Ocean Monitoring for the newly formed Blue Ocean Marine Services business, along with investing in next-generation robotics and subsea technology through the calendar year.
Vertech Group plans to continue to explore organic and inorganic growth opportunities in 2021, with a focus on service providers with complementary services and strong management teams.
To read further background on both companies click here.
To read the Financial Review’s article on the deal click here
To read The West Australian’s article click here
To read Business News’ article click here