2007 Hindmarsh News
12 DECEMBER 2007
Hindmarsh Aquires Queensland Construction Company
Hindmarsh has acquired the Brisbane-based building and construction company Project Coordination Queensland (PCQ).
Hindmarsh CEO Darren Dougan said PCQ was an excellent fit with Hindmarsh’s existing operations. PCQ becomes a subsidiary of Hindmarsh Construction (Australia).
“Our construction activities have been centred in Canberra, Sydney, Adelaide and more recently Darwin. This acquisition is an important step in our plans to establish a significant presence in south-east Queensland.”
PCQ, which was established in 1999, has an annual turnover of $45 million and employs 35 staff. “We plan a capital injection to allow the company to bid for much larger projects and to ensure we continue to grow its revenue and client base.”
Mr Dougan said Chris Kenvyn would remain in his present role as PCQ’s Managing Director and would retain a shareholding in the company.
“Our two businesses share the same values and commitment to relationship-building and professionalism. I am delighted at the opportunities the acquisition will present for existing PCQ staff to further develop their skills and expertise,” Mr Kenvyn said.
Mr Dougan said Hindmarsh also planned to use its new base in Queensland to expand the parent company’s other business activities.
“We are now looking for opportunities for Hindmarsh Development in Queensland. Our car parking division Ezipark currently operates in Sydney, Adelaide, Melbourne and Canberra. Brisbane now shapes as the next logical market for expansion of the Ezipark brand. In the medium term, Hindmarsh Retirement will also be looking for investment opportunities.”
Mr Dougan said while Hindmarsh had been focussing primarily on growing its existing businesses, including its various interests in China, it had also been looking for the right opportunity to enter the Queensland market. “In PCQ we have a company which reflects our own philosophy and commitment to delivering exceptional results for our clients.”
Hindmarsh won the 2007 Master Builders’ Association National Award for High Rise Apartment Buildings for ‘The Metropolitan’ and the 2006 MBA National President’s Award for the ‘John Curtin School of Medical Research’.
Contacts:
Darren Dougan, CEO Hindmarsh (0411 368 426)
Chris Kenvyn, MD Projection Coordination Qld (0429 911 165)
Laurie Wilson, Hindmarsh (0419 295 499)
Background - Hindmarsh & Project Coordination Queensland (PCQ)
- Hindmarsh is a privately-owned national company with operations in Canberra, Sydney, Adelaide, Melbourne and Darwin. It also has offices in China (Beijing and Shanghai) and operates the Canberra Commerce Office in Shanghai on behalf of the ACT Government.
- PCQ is a Brisbane-based company. Chris Kenvyn retains a shareholding in the company and remains as Managing Director. PCQ is now a subsidiary of Hindmarsh Construction (Australia), which is a subsidiary of the parent company, Hindmarsh.
- Hindmarsh plans a capital injection to lift PCQ’s revenue cap (Annual Allowable Turnover) to $80 million. This will virtually double the company’s existing cap, allowing it to bid for larger government contracts.
- Because of the strength of the Queensland market, Hindmarsh believes there is a shortage of larger mid-tier firms capable of undertaking the sort of work PCQ plans to target – particularly in the education/schools and health/aged care markets where both Hindmarsh and PCQ have considerable experience.
- The initial target will be to double the size of PCQ’s operations, which will mean an increase in its present staffing level of 35 people. With the acquisition of PCQ, the Hindmarsh group of companies will employ in excess of 300 people.
- PCQ’s current projects include
- $14m 122-bed aged care facility for Aged Care Services Group in Deception Bay
- $10m Northern Coomera State School Prep-7 (Stage 1) for Education Queensland
- $5m Bluehaven Aged Care Hostel upgrade and new wing, Ingham, for BlueCare
- $8m Queensland Sports and Athletics Centre hydrotherapy pool for Queensland Sports Commission
- $10m Coles stores upgrades and refurbishments
- $4m Logan North Library for Logan City Council
- $3.5m fire station at Maroochy Airport for Air Services Australia
- $9m Cooloola Sands Shopping Centre for Parmac Property.
- Hindmarsh has approx $500m worth of construction activity current underway and has well in excess of a billion dollars worth of development projects in either the construction or planning stages.
- Hindmarsh’s largest project is the $500m Woden Green Project in the ACT (up to 750 dwellings, including approx 120 retirement, plus commercial offices). Other current projects include
ACT
- Fern Hill, ACT (250 dwellings, inc 110 retirement)
- Lyons, ACT (250 dwellings, inc 110 retirement)
- Stage 2 of the John Curtin School of Medical Research, The Australian National University (project value to date $85m)
NSW
- University of Western Sydney Medical School ($40m)
- Elizabeth Bay, Sydney, 9-unit luxury apartment block
- Globe, Adelaide city (158 student & affordable accommodation units
SA/NT
- Royal Park, Adelaide (101 retirement units)
- Wyatt St, Adelaide CBD (commercial development adjacent to Flinders Link which was constructed and co-developed by Hindmarsh, subsequently sold to Saschen-Fonds Gmbh for $156m)
- Waterfront development, Darwin, 500-bay car park.
- Hindmarsh recently won the 2007 National MBA Award for High-Rise Apartment Buildings for The Metropolitan Apartments.
- Hindmarsh won the MBA’s 2006 National President’s Award for the John Curtin School of Medical Research at the Australian National University.
- Hindmarsh plans to use its new Qld headquarters to target development and investment opportunities for Hindmarsh Development and Hindmarsh Retirement. Ezipark, its wholly-owned car parking subsidiary which currently owns and operates car parks in Sydney, Canberra, Melbourne and Adelaide is also planning to expand its activities into the Queensland market.
- Hindmarsh is also active in China
- Hindmarsh imports building materials for use in its own construction projects
- Hindmarsh is a joint venture partner in Kingdy Parking, the largest privately-owned car parking operator in Beijing
- Hindmarsh operates the ACT Commerce Office in Shanghai on behalf of the ACT Government. The office was established to assist Canberra companies seeking to do business in China and to encourage the two-way flow of investment capital.
