Jun 05, 2020

SMW Group to publicly list

SMW Group to publicly list The new SMW Group will be listed on the NZX Market in New Zealand as SMW Group Limited (NZX:SMW), with a view to eventually listing on the ASX.

Well-known CQ businesses SMW Group and BAE Engineering have announced a merger and the creation of a new parent company, SMW Group Limited.

SMW Group is a diversified mining support and industry services provider based in Rockhampton, Queensland. SMW has been operating since 2010 and employs over 320 staff.

The company has three key business divisions covering heavy fabrication and engineering, field services and abrasive blast and paint.

SMW works with a number of market-leading mining and infrastructure related entities, including BHP/BMA, Anglo American Coal, Coronado Curragh, Aurizon and the Rockhampton City Council.

BAE is based in Mackay and has been operating since 2011. BAE provides specialised mining support services, manufacturing mineral processing equipment supplied to the mining, construction, petrochemical and sugar industries.

BAE has over 70 staff working across three principal divisions – Maintenance and Field Services, Workshop Manufacture and Fabrication, D Scanning and Design drafting.

BAE supports and executes service for the major mining houses operating in the Northern Bowen Basin, including BMA, Glencore, Stanmore, Thiess, Anglo American, Peabody, Batchfire and Port Infrastructure.

This new parent company, subject to receiving final approvals, will be listed on the NZX Market in New Zealand as SMW Group Limited (NZX:SMW), with a view to eventually listing on the ASX. 

“The merger represented an exciting step in the growth of the company, as well as an expansion of our ability to deliver services to our existing clients,” said SMW Group founding partner Jack Trenaman.

“Our business’s footprint will now cover Mackay and Rockhampton, meaning that we can provide services to the Bowen Basin and major projects in a faster, smarter and more efficient manner,” Mr Trenaman said.

“As we expand our potential, this also means we will be able to work with customers in new and improved ways.

“Whether this looks like an expansion to our field service offering, new projects in civil or defence or even duplicating our successful industrial cleaning or solar power divisions in a new location, we’ll be on the lookout to provide maximum value to our customers in the simplest way possible.”

The Chair of the newly formed SMW Group Limited will be Chris Leon. 

Mr Leon has listed company experience both in Australia and Asia. He is a professional engineer with a wide range of experience in heavy engineering including in LNG, mining, fertiliser, lime, cement and steel mill services.

He has significant commercial experience and a successful track record in Mergers and Acquisitions in both the formation of IPL Ltd and the integration of Cement Australia. 

The larger critical mass of the combined entity, together with the governance assurance of a listed business, will open up new opportunities, said Mr Leon.

“As a listed business, the Group will have improved access to capital for expansion: both organic and through acquisition,” he said.