Macmahon Holdings Ltd today announced it had signed an agreement to purchase TMM Group, a Brisbane-based group of companies which provide civil construction and operations and maintenance services to the Queensland coal mining industry. The acquisition of TMM will provide
Macmahon with additional civil capability that is expected to be an enabler to core mining work through contracts for initial site earthworks and construction services, as well as the ability to target site rehabilitation projects.
TMM’s current revenue is in the order of A$60 million per annum, but Macmahon says it “will seek to rapidly grow the business by pursuing opportunities across Australia.” The acquisition is not expected to have a material impact on Macmahon’s results for FY18. The vendors of TMM Group will remain involved with the business for at least three years from completion of the transaction.