Calibre expands with consultancy
Engineering company Calibre Group has bought an urban development consultancy focused on the South West region.
Calibre said it would pay a combination of scrip and cash for Town Planning Management Engineering, with part of the payment subject to performance targets over two years.
The company did not disclose the value of the deal but issued $188,000 in shares to the TME vendors.
TME provides planning and civil engineering services for private developers and local government, operating mainly in residential and industrial land development.
The business was formerly known as Thompson McRobert Edgeloe. It has offices in Perth, Bunbury and Margaret River.
The firm will be folded into Calibre's consulting division and rebranded. TME managing director Wayne Edgeloe and other existing management will stay with the business. Mr Edgeloe is known as a leading designer of trotting tracks around Australia.
Calibre Consulting managing director Gary Spence said TME would complement the group's Perth-based structural engineering team.
"The acquisition of TME will enable us to better service our national clients already operating in Western Australia and also those looking to invest in WA for the first time," Mr Spence said.
The consulting division's revenue rose 46 per cent to $44 million in the first half. Calibre said that result was driven by strong growth in its east coast business and the integration of Spiire New Zealand.
The group reported a $155 million net loss, a result affected by $162 million in impairments.
Calibre's share price closed up 1.5¢ yesterday at 24.5¢.
