GROWING private resources and energy conglomerate, CFC Group, has today completed its acquisition of Perth-based mining services business, Cape Crushing and Earthmoving Contractors Pty Ltd, from the VDM Group Limited.
Cape Crushing and Earthmoving now joins Western Australia’s largest lead logistics provider, Centurion; one of the country’s most innovative underground utilities infrastructure installation contractors, Underground Services; and national distributor of the world-renowned JCB construction and agricultural equipment range, JCB Construction Equipment Australia, as part of the CFC Group.
Executive Chairman Philip Cardaci said the acquisition would significantly strengthen the Group’s mining services offering, adding crushing and earthmoving to its logistics and utilities infrastructure capabilities.
“Cape Crushing and Earthmoving is our first, wholly mining services-based business and will well support our already strong exposure to the mining industry,’’ Mr Cardaci said.
“It has great synergies with our existing businesses. We are excited with our improved service capability to mining industry clients.
“Support across the businesses also will allow greater efficiencies for clients. Cape Crushing and Earthmoving will have direct access to logistics and equipment support. Access to finance and other systems and operations through the CFC Group will further assist the business.’’
Mr Cardaci welcomed Cape Crushing and Earthmoving’s 275 staff and strong management team to the CFC Group. The addition of the Cape Crushing team brings the CFC Group’s employee numbers to over 1,100.
He said he also was pleased with the business’ strong safety culture and team values, which were closely aligned with those of the CFC Group.
“They share the same ‘safety first’ culture that we are intent on building. The team at Cape strive every day to provide their clients with a high value, safe service.’’
Cape Crushing and Earthmoving Managing Director and founder Mike Heddon said the move reinforced the commitment of the businesses to the WA market and, in particular, the mining services industry and it would provide improved value to clients. CFC Group will also provide additional opportunities for our team at Cape.