Construction services group Global Construction Services Limited (GCS) today announced that it has submitted a non-binding, indicative bid for a hire business in Western Australia. The target business currently generates revenue of approximately $9 million per annum and it fits with GCS’s stated strategy of growth through acquisition, acquiring businesses that are complementary to or enhance its existing suite of products and services. The negotiations are at a preliminary stage and remain incomplete. The transaction is subject to various approvals and if the bid is successful, it is expected that the acquisition will be EPS accretive.
GCS Group (GCS) is a diversified construction services company that supplies equipment to the construction and maintenance industries including hire and sales of scaffolding, formwork, material hoists, temporary accommodation, chemical toilets, temporary fencing and general plant hire together with a range of related labour and design services. GCS Group’s strategy for growth is to focus primarily on servicing the West Australian construction industry. In addition, the Company intends to explore opportunities in new markets, diversify into related industries and industry sectors and acquire selected new businesses that create value for shareholders.
Tags: Construction, Construction Services, GCS, Global Construction Services, New acquisition
