This article is from the Australian Property Journal archive
Cardno has bought Perth based land development firm, Gilbert Rose Consulting.
The acquisition will enhance Cardno’s presence in Western Australia’s burgeoning land development market.
The new firm, to be known as Cardno Gilbert Rose, is expected to contribute around $2 million per year in turnover and be EPS positive.
Gilbert Rose has provided land development engineering services to a number of major land developers including Urban Pacific and Stockland.
Gilbert Rose has worked on large developments such as Somerly (1200 lots), Landsdale Gardens (1800 lots), Settlers Hill (2300 lots) and in Perth’s emerging suburb of Byford.
Cardno’s managing director Andrew Buckley said the resources boom in Western Australia is continuing to fuel population growth and demand for new housing.
“In WA the land development market is extremely buoyant. It’s an opportune time to expand Cardno’s presence. Additionally the overall demand for engineering services in Western Australia is very high so the Gilbert Rose acquisition will only strengthen our presence and capacity to satisfy demand,” he added.
The acquisition will be funded by a mix of cash and shares and key Gilbert Rose staff will become shareholders in Cardno and remain active in the company.
By Kathryn O’Meara
