T&C Services Pty Ltd has been acquired by ATIVO Pty Ltd
Thomas & Coffey Limited, provider of maintenance and construction services to the industrial and mining sectors throughout New South Wales and Queensland, has sold T&C Services Pty Ltd (T&C) to ATIVO Pty Ltd (ATIVO) for US$30.15 million.
T&C Services is a specialized maintenance services provider with a strong presence in New South Wales and Queensland servicing a blue chip client base.
In October 2012, following 18 months of difficult trading conditions, Thomas & Coffey was approached by a major construction group with an indicative merger proposal. At the same time, two other substantial companies approached Thomas & Coffey, including SKILLED Group Limited (SKILLED). The indicative merger proposal was later withdrawn for reasons not connected to Thomas & Coffey who re-engaged with SKILLED resulting in a transaction being announced some 7 months later pursuant to which ATIVO, the wholly owned maintenance services subsidiary of SKILLED, would acquire T&C and would take over the 650 T&C employees.
ATIVO Pty Ltd is a wholly owned subsidiary of SKILLED Group Limited (SKILLED), Australia's largest provider of workforce services. Mick McMahon, CEO of SKILLED, said in his market presentation “the acquisition of T&C allows SKILLED to build scale in attractive higher skill and higher margin segments, consistent with our strategy to build scale in growth sectors."
Oaklins' team in Australia advised Thomas & Coffey in this transaction.
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