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Monadelphous Acquires Buildtek and Maqrent in Chile

Mining News - Published on Thu, 28 Nov 2019

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Australian engineering company Monadelphous Group Limited recently announced it has acquired Chil based construction and maintenance services contractor, Buildtek SpA and plant and equipment hire company Maqrent SpA. Buildtek provides multidisciplinary construction and maintenance services to the mining sector in Chile. It has facilities in Antofagasta, Rancagua and Calama, and a head office in Santiago. Maqrent provides a range of plant, machinery and equipment for hire to Buildtek and external customers in the mining and construction sector. Customers include major resources and energy companies such as Codelco, BHP, Albemarle, Anglo American and GNL Quintero. The business achieved an annual turnover in excess of CLP 20,000 million (approximately AUD 40 million) in the last financial year.

Monadelphous acquired 75 per cent of the companies for approximately CLP 5,000 million (approximately AUD 9.5 million) cash, with an option to purchase the remaining 25 per cent in three years' time.

The companies were founded in 2007 by Victor Valech and employ approximately 700 people. Victor will continue to manage and run the operations in Chile, with support from Monadelphous.

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Posted By : Rabi Wangkhem on Thu, 28 Nov 2019
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