Civmec completes acquisition of Australia’s Forgacs in $14.6m deal

Singapore-listed Civmec has completed the acquisition of Australia’s largest privately owned engineering and shipbuilding company, Forgacs for A$20.75 million ($14.6 million).

The strategic acquisition by Civmec will include the Forgacs name, its shipyard facilities and assets located at Tomago, New South Wales.

Forgacs is engaged in major project engineering, construction and maintenance for both defence and commercial markets.

Civmec said, it will develop the Tomago site to operate as a multi-disciplinary facility to replicate its flagship operations at Henderson, Western Australia

Civmec CEO Pat Tallon said, “This acquisition gives us a strong presence on the East Coast of Australia, enabling us to provide national and regional clients with a range of services in line with those we currently provide on the West Coast of Australia.”

Tallon added, “Our initial focus will be on steel fabrication and pre-cast concrete manufacture and over time we intend to combine the credibility of both the Tomago purpose-built ship building facilities and Civmec’s heavy engineering expertise to further strengthen our defence service offering.”

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.