Transport arm crucial for energy exploration supply chain services provider’s plans
Darwin Marine Supply Base operator ASCO Australasia has paid $28 million to acquire a 60 per cent stake in leading Australian oilfield road transport specialist Bonnie Rock Transport (BRT).
UK-based ASCO sees the deal, with the option to move to 100 per cent equity, as a key plank in its plan to establish a major transport and logistics business to support the Australian oil and gas sector.
Bonnie Rock Transport is a specialist in the mobilisation of large drilling rigs and associated equipment covering all aspects of rigging and logistics operations and provides warehousing and distribution, container transport and freight distribution.
Headquartered in Perth, the company has depots in Perth, Dampier, Dongara and Broome in Western Australia, as well as Chinchilla in Queensland.
“Bonnie Rock Transport is a perfect fit with ASCO Group’s international activities and our expansion plans in Australia,” ASCO Australasia CEO Matt Thomas says.
“ASCO is building a significant footprint in Australia – with our management of the Darwin Marine Supply Base, our acquisition of Brisbane-based global inventory and asset management business Oniqua in 2012, and now the Bonnie Rock purchase.
“ASCO Australasia can now support its customers through the entire supply chain cycle, ensuring, equipment and materials get to where they are needed, when they are needed.”
Bonnie Rock Transport Managing Director Jim Currie says he is looking forward to working with the company.
Formed in 1998 by members of the Currie family – Jim, Ron, John and Darren – Bonnie Rock has long-term experience in providing logistics services to the offshore and onshore oil and gas industry
“We are excited about the opportunities that will come with joining a group the size and expertise of ASCO,” Currie says.
“We look forward to working closely with ASCO to grow our business across Australia.”
ASCO says it sees opportunities for growth as several major offshore oil and gas operators move from the exploration to the production phase.
“With forecast growth in unconventional oil and gas exploration and development in remote areas of Australia, significant expansion is also predicted in onshore drilling rig and camp mobilisation,” it says.