Electrical engineering company, LogiCamms Limited, will merge with Australian process engineering firm, Process Essentials Pty Ltd — a move expected to allow LogiCamms to execute larger, higher value projects.
The merger will also provide LogiCamms with new strategic capability to be engaged in projects much earlier in their life cycle and it will complement the company’s existing electrical and mechanical capabilities.
According to LogiCamms, it will also give the company the ability to execute larger, higher value projects for its customers and industry partners.
Under the agreement, LogiCamms will acquire 100 per cent of Process Essentials’ holding company, HSE Holdings Pty Ltd. The agreement is subject to the completion of due diligence, the approval of LogiCamms’ shareholders (if required), and a number of other conditions precedent.
Due diligence is well advanced and expected to be completed within four weeks, LogiCamms says.
Brisbane-based Process Essentials has revenues of approximately $4 million annually and its team of 15 staff specialise in the delivery of process engineering and EPC solutions to the chemical, resources, energy and food sectors in Australia and Asia.
LogiCamms managing director, Adam Keats, said: “We are confident new market opportunities and value will be derived from the amalgamation of our two businesses. Our markets are aligned, our services are complementary and our combined expertise will greatly improve the value we can create for our clients, staff and shareholders”.
Process Essentials managing director, Jason Hepburn said that his company is excited about joining the LogiCamms stable.
“[We are] confident this will enable increased capacity and expertise to deliver outstanding customer solutions. Our companies have worked together successfully over many years, have strong cultural alignment and this merger is a natural evolution for us,” he said.
LogiCamms is a national electrical engineering and control systems company servicing the infrastructure, energy and utilities and resources sectors. LogiCamms currently provides a wide range of electrical and mechanical engineering services along with specialised design, implementation and support of control systems.