Deal for mining and infrastructure services company worth $135 million
Qube Holdings has announced the $135 million acquisition of LCR Group, a mining and infrastructure services and technology company with presence in Australia and Papua New Guinea.
Headquartered in Hendra, Queensland, the group lists its specialty in lift and shift materials-handling solutions for mining, heavy transport, mobile crane, oil and gas and renewable energy industries.
Qube says it and LCR “are aligned in their business models which are driven by a strong safety culture, a solid and stable team, and a strong ethos to work with our local communities”.
“The acquisition of LCR is significant as it provides Qube the ability to deliver enhanced broad spectrum mining and industrial services to its existing and future customers,” Qube Holdings COO Paul Digney says.
“LCR is well known for providing innovative lift and shift materials handling solutions across Australia and PNG.
“I am delighted to welcome all LCR staff and management to Qube and look forward to seeing the expanded service offering benefiting the combined customer base.”
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LCR managing director Col Partington says that under the support umbrella of Qube the collective goal is to increase its presence and customer focus both in Australia and internationally.
“I am very excited for the staff and customers of LCR; Qube offers a great opportunity for all parties to be part of a growing national logistics business,” Partington says.
The move follows the launch of a new Qube Containers division, established to provide sales, hire and lease, modifications and bespoke shipping container solutions.
The LCR purchase adds to its international presence in Malysia, Singapore, Indonesia and New Zealand.