CARDNO TAKES ON SYDNEY SURVEY COMPANY

CARDNO TAKES ON SYDNEY SURVEY COMPANY

International infrastructure services group, Cardno Limited (ASX: CDD) has acquired Sydney survey firm Hard & Forester.

Hard & Forester has been in operation since 1982 and is one of the largest surveying practices in New South Wales with 24 survey parties.

Cardno Hard & Forester, as the business will be known, will add revenues of around $9 million per annum, according to Cardno managing director Andrew Buckley (pictured).

Buckley says the acquisition will assist the company in expanding its survey capabilities.

“Acquiring Hard & Forester increases our exposure to work in the infrastructure markets of New South Wales,” he says.

The acquisition will be funded by an approximate mix of 75 per cent cash and 25 per cent shares. Around 250,000 shares will be issued at a price of $7.82769. The cash component will be funded from available cash reserves.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Does your pay structure answer today's challenges?
Partner Content
If you are not reassessing how your organisation remunerates and rewards employees as a...
Aon
Advertisement

Related Stories

Shine launches class action against QSuper

Shine launches class action against QSuper

Members of QSuper have filed a class action against the super fund ...

Nic Blair's digital healthcare startup Midnight Health scores $4m investment from nib

Nic Blair's digital healthcare startup Midnight Health scores $4m investment from nib

Health insurer nib (ASX: NHF) has put its weight behind healthcare ...

Reprieve for EML Payments as Irish regulators allow new customers and programs

Reprieve for EML Payments as Irish regulators allow new customers and programs

The dreaded 'Bank of Ireland Update' has become an ominous ...

GURNER, Qualitas raise $1.2 billion for rent-to-build platform

GURNER, Qualitas raise $1.2 billion for rent-to-build platform

Developer GURNER and alternative real estate investment manager Qua...