BGC Contracting Acquires DIAB Engineering

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                                          BGC Director Sam Buckeridge with DIAB Engineering Co-Founder Anne Payne and CEO Glen Payne. 

Leading Australian mining and civil construction firm BGC Contracting Pty Ltd today announced it has acquired 100% of family-owned DIAB Engineering Pty Ltd. Headquartered in Geraldton, Western Australia, DIAB is an established industrial maintenance and fabrication services business, servicing many of Australia’s leading resources companies.

Chief Executive Officer Greg Heylen said the acquisition was in line with BGC Contracting’s diversification strategy.

“In the past year we’ve had a number of successes in our wider diversification and growth strategy which encompasses broadening our geographical spread and expanding the commodities and sectors we operate in,” Mr Heylen said.

“We have also assessed suitable acquisition opportunities - to diversify our existing suite of contract mining and construction services.  We see the facilities management and maintenance stream as a natural extension to our core business, and a significant growth area.

“The acquisition deepens our service offering, with DIAB’s specialist capabilities including construction, industrial maintenance, manufacturing, and equipment hire.

“DIAB’s Geraldton location also appealed to us. The City of Geraldton offers great service and logistics infrastructure and good access to major mining operations.”

DIAB Managing Director Glen Payne said he was delighted the business co-founded by his parents, David and Anne Payne in 1970, had attracted a buyer of BGC Contracting’s size and stature.

“My parents and their partners Ian and Betty Shield, and all the DIAB staff, have worked really hard to build DIAB into the successful company it is today,” Mr Payne said.

“I’m really pleased we have reached this milestone agreement with BGC Contracting.  I think it is safe to say we hit it off from the start and there were obvious synergies in both companies’ values.  For our team of more than 500 people and the Midwest community, it’s a great outcome for them to be part of the BGC family.”

Mr Heylen added that there was a strong cultural and commercial fit between the two companies.

“In addition to a complementary suite of services, we have a very similar client-centric culture and approach to service delivery, which I believe comes from being family-owned,” Mr Heylen said.

He said the business would continue to operate with a high degree of autonomy under its existing brand.