Diversified, one of Australia’s pipeline contracting companies and a subsidiary of Walter Diversified Services (WDS) Group, acquired a majority interest in the Brisbane based Ackroyd Engineering Services (AES) earlier this year.
Diversified said that the acquisition brings a new level of increased capacity in relation to the installation of pipelines, associated works and mechanical items in an era when the resources sector is stretched to full capacity.
Announcing the deal, WDS Managing Directory Garry Ash said “Through the alliance, the sum of the two parts becomes significantly greater than the whole, particularly in terms of our ability to get the job done, maintaining rigorous time schedules and bringing a highly effective and co-ordinated team to the job.”
He said that WDS will be looking to invest in further expansion to broaden and extend its services available to clients. “The strategic alliance between the two companies means we are optimally placed to meet the demands of the pipeline industry sector,” he explained.
Mr Ash added that most of the work carried out by AES complements the operations of Diversified and the AES team.
AES founder, Rohan Ackroyd, will stay on as AES General Manager and will retain a significant equity in the company. AES contracts for major projects include recent site-based installations in the Surat Basin under contract with the Queensland Gas Company.
Mr Ackroyd said that both Diversified’s and AES’s operations meshed exceptionally well with each other, particularly in the areas of gas compression installations and flowline installations.
Concluding his comments on the acquisition, Mr Ash said “More than ever now. Diversified will be more strongly equipped for a turnkey approach to gas field and pipeline projects.”
