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Industry News, Latest News, Queensland

Orcoda acquires BGC for $5M

Juan Santamaria, previously Managing Director of CPB Contractors, has been promoted to CEO and Managing Director of CIMIC Group. He will begin in the new role on 5 February 2020.

Orcoda Limited has purchased the Betta Group of Companies (BGC), a transport services business for rail, road and air infrastructure power services for $5 million.

BGC has done significant work in transport infrastructure related projects across rail, road and air, providing power services for companies such as Aurizon, Ergon Energy, Queensland Rail and more. It also provides work for services in oil & gas and mining projects.

The company has an ‘essential service’ status and is exposed to growing infrastructure markets in central Queensland, following government stimulus for major infrastructure projects.

BGC achieved $9 million in revenue and an EBITDA of $2.1 million in FY20. The total consideration for the transaction is expected to be $5 million, paid as a combination of securities and cash.

Betta Group Founder and Managing Director Geoff Williams said the majority of Betta’s contracts are remote and will benefit from Orcoda’s software, contracting and management expertise in managing our workforce and our assets (vehicles, plant and equipment).

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“The joining of our businesses will add significant value and efficiency to the business and enhance its profitability. There are multiple major infrastructure projects coming up in road, rail and air in Central Queensland and a combined Orcoda/Betta business will be well positioned to win a lot of these contracts,” he said.

Orcoda Managing Director Geoff Jamieson said Betta Group is a perfect fit into Orcoda’s Resource Logistics division.

“Once a contract is won, we will both manage the contract utilising our management skills in managing workers, assets and utilise our existing ‘best in class’ software to optimise the project outcomes and deliver better value for our customers. Betta’s ISO qualifications will enhance the newly merged entity’s ability to win new infrastructure projects,” he said.

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