A$48m Acquisition of GBF Group
On June 18, 2019, Macmahon Holdings Limited (Macmahon) announced it had executed a binding agreement to acquire 100% of GF Holdings (WA) Pty Ltd and its subsidiaries (collectively referred to as the GBF Underground Mining Group) (GBF).
Macmahon is an ASX-listed company offering the complete package of mining services to miners throughout Australia and Southeast Asia. Macmahon’s extensive experience in both surface and underground mining has established the Company as the contractor of choice for resources projects across a range of locations and commodity sectors.
GBF was founded in 1988 and is a WA-based, private underground mining contractor with operations centered around the Goldfields region. GBF is forecast to generate FY20 revenue of circa $180 million and EBITDA of cira $20 million.
The transaction completed on 2 August 2019.