The company was acquired by Coffey Geotechnics NZ Ltd, a recently established entity which Foundation Engineering will trade under.
This is the second Coffey acquisition in New Zealand within three months and is part of its strategy to expand services and geographical presence. Coffey acquired Carson Group, specialists in project management in November 2006. Foundation Engineering is primarily based in and around the Auckland area. Under Coffey ownership it will now look to expand its presence throughout New Zealand, and to extend its service offering into the environmental sector.
“This acquisition will enable Coffey to service existing clients that have operations in New Zealand and to increase the range of services we can deliver to Foundation Engineering clients,” said Coffey Managing Director Roger Olds. “There are some significant opportunities to rapidly accelerate the growth of Foundation Engineering when it is part of Coffey,” added Roger.
““This is an exciting opportunity for our staff to expand into new regions. It provides us with economies of scale for training and development and an increased variety of opportunities to enable us to continue to attract and retain the best people. We can now offer our valued clients an even wider range of technical support while continuing to maintain our established standards of excellence and service." said Foundation Engineering Managing Director Rod Melville-Smith.
Foundation Engineering has three offices in New Zealand. Its head office is in Auckland. The business has experienced strong growth over the past four years, with a 55 percent increase in net profit over this period achieved on the basis of strong revenue growth and consistent margins. The company has 40 employees,
About Coffey International Limited
Coffey International Limited has a vision to improve the lives of world communities by providing both physical and social infrastructure solutions to business, government and development assistance agencies.
Coffey employs around 2,300 people and is one of Australia's largest international service providers.
Coffey International Limited is listed on the Australian Stock Exchange and is part of the S&P ASX 300 and small companies’ indices.
Visit www.coffey.com for more information about Coffey.
About Foundation Engineering Consultants
Foundation Engineering Consultants was established in 1972 as an independent specialist geotechnical consultant. Current clients work in the professional, commercial, industrial, government, local body and private industries, primarily in the upper north island of New Zealand. The company has an Internationally Accredited New Zealand (IANZ) (ISO17025) registered laboratory which undertakes a wide range of soil tests. Its head office is in Newmarket, a suburb of Auckland. Other offices include Orewa and Tauranga.
Visit www.fel-nz.com for more information about Foundation Engineering Consultants.
Company background and profile is available.
ENDS
For more information, please contact Brigitte Claney, Mendleson Communication on brigitte@mendleson.com.au
