WA’s Kerman will continue as a subsidiary under Monadelphous ownership
Australian construction firm Monadelphous has entered into an agreement to acquire WA’s Kerman Contracting.
Kerman was founded by Brian Kerman in 1981 and specialises in building bulk storage and materials handling facilities, non-process and industrial infrastructure such as workshops, factories and vehicle facilities, and process plants.
Monadelphous was established in Kalgoorlie, WA, in 1972 to provide general mechanical contracting services to Australia’s mining industry. It has since diversified into construction, maintenance and industrial services for resources, energy and infrastructure.
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Monadelphous will issue $15 million in shares in addition to a cash payment equivalent to the net cash of the business. Kerman will continue to operate as a stand-alone, wholly owned subsidiary.
“Joining Monadelphous is a great opportunity for Kerman to build on our growth, leveraging our businesses’ synergies as well as our existing strengths and capabilities,” Kerman managing director Mark Nagle says.
“Supported by Monadelphous’ longstanding reputation and balance sheet strength, we will focus on enhancing stability and scale, while strengthening existing client relationships.”