GR Engineering Services Limited’s wholly owned subsidiary, Mipac Holdings Pty Ltd, has entered into an agreement to acquire Paradigm Engineers Pty Ltd, a provider of control systems and electrical engineering, automation and technology services based in Western Australia, in a deal worth A$9 million ($5.9 million).
This transaction enhances Mipac’s control system and electrical design capabilities and expands its existing footprint in Western Australia, the company said, adding that Paradigm has significant expertise working across a range of commodities, including iron ore, gold and battery minerals.
GR Engineering said: “Process controls have become increasingly relied upon as a platform to extract efficiencies and improve safety outcomes in processing operations through the adoption of technology and software solutions. Advances in control system design and product technologies and their adoption in operations are being mandated across the industry by leading industry participants to support the safe and optimised performance of assets.”
Paradigm, which states as having clients such as BHP, Rio Tinto and Newmont, is forecasting financial year 2024 revenue of A$16 million and an EBITDA margin percentage consistent with Mipac, GR Engineering says. The combined Mipac and Paradigm business is expected to generate revenue of approximately A$50 million on a pro-forma basis.