Vertech Group proudly announces the majority acquisition of APS, a Victorian-based industrial services provider.
Despite the major challenges many industries face 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 organisation’s size and providing exposure to an infrastructure sector set to grow on the back of record Government stimulus.
Vertech Group Managing Director, Tom Brennan, commented:
This deal was integral to Vertech Group’s strategy to enter new vertical markets across Australia, particularly the infrastructure and power generation sectors, where APS is well established as a market-leading service provider.
APS and Vertech Group are 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 are akin to our own, and it’s immediately evident that they have achieved this by building a world-class management team.
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 look forward to seeing what the future holds for APS. Being part of the Vertech Group will allow us to cement our commitment to our clients by providing innovative, 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 Australia and New Zealand.
The group’s rapid growth has largely been due to the strong support shown by the investment group, CWL, who, in 2018, took 80% ownership in Vertech Group (this has since expanded to complete ownership).
CWL Director Alex Cesan remarked:
The investment in Vertech Group 2018 was a milestone for CWL, establishing Australia as our largest operations centre 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 and entering 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 exploring organic and inorganic growth opportunities in 2021, focusing on service providers with complementary services and strong management teams.
To read more about 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 the Business News article, click here.
