Sime Darby Berhad enters agreement to acquire Heavy Maintenance Group in Australia

Sime Darby Berhad (“SDB”) announced today that its wholly-owned subsidiary, Sime Darby Industrial Australia (“SDIA”), has agreed to acquire Heavy Maintenance Group Pty Ltd (“HMG”) from private equity fund, Pemba Capital (“Pemba”).   

HMG is a leading specialist provider in the manufacture, refurbishment and surface finishing of equipment components to its customers in Australia and Asia Pacific.  Operating from a large state-of-the-art facility in Brisbane, Australia, HMG services the mining, oil and gas and other heavy industries which require the manufacturing or refurbishment of hydraulic cylinders, sophisticated engineering and protective surface finishing coating.  

SDIA Director Dean Mehmet said HMG would complement and add capacity to Austchrome, its existing cylinder refurbishment and chroming business in Mackay. 

“The acquisition of HMG builds geographic coverage by combining our Mackay capability with those of the HMG facility in Brisbane. We are very pleased to have retained HMG’s strong management team and look forward to working with HMG to continue building its leadership in the mining cylinder refurbishment market as well as drive growth in the oil and gas sector.” 

The transaction is expected to complete by end 2018, subject to approval from the Foreign Investment Review Board of Australia. Employees of HMG will remain employed by the company as it transfers to new ownership.