Trailer Magazine

Qube announces $135M acquisition

  • Posted on Monday 13th, May 2019.

Logistics service provider, Qube Holdings, has acquired mining and industrial services company, LCR Group, for $135 million, which was funded through Qube’s existing undrawn debt facilities.

“The acquisition of LCR is significant as it provides Qube the ability to deliver enhanced broad spectrum mining and industrial services to its existing and future customers,” said Qube Holdings Chief Operating Officer, Paul Digney.

“LCR is well known for providing innovative lift and shift materials handling solutions across Australia and PNG,” he said.

The acquisition provides Qube additional geographical diversity and service capability to enhance the company’s ability to provide reliable integrated logistics solutions.

Qube and LCR Group are aligned in their business models which are driven by a strong safety culture, a solid and stable team, and a strong ethos to work with our local communities rather than simply in them.

"This alignment will continue under the support umbrella of Qube which will drive our collective goal to increase our presence and customer focus both in Australia and internationally,” said LCR CEO and Managing Director, Col Partington.

“I am very excited for the staff and customers of LCR; Qube offers a great opportunity for all parties to be part of a growing national logistics business,” he said.

Digby said Qube is committed to developing strong business units that deliver value for its customers.

“I am delighted to welcome all LCR staff and management to Qube
and l look forward to seeing the expanded service offering benefiting the combined customer base,” he said.

Earlier this month, Qube formed a dedicated containers division.

(Image: Qube Bulk tipper fitted with QuickSilver floor liner from E-Plas.)

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