Diversified marine and port services company TAMS Group has expanded outside of Western Australia with the acquisition of two Queensland-based marine services firms.
TAMS announced Tuesday it has purchased marine services company MIPEC and diving-focused Taylored Offshore Services, as it targets larger projects across Australia and the Asia-Pacific. The company did not reveal the purchase price for either deal.
Like TAMS, Gladstone-based MIPEC provides port services, marine maintenance, engineering and construction services to the mining, marine, and oil and gas sectors. Established in 2004, MIPEC is the largest privately-operated facility in the Gladstone Port Corporation’s Marina. It occupies 6 hectares of land and seabed lease, with extensive marine infrastructure including jetties, slipway, travel lift, barge ramp and significant onshore facilities including vessel maintenance yard, fabrication facilities, warehousing and laydown yard.
Cairns-based Taylored Offshore Services offers a complete range of commercial diving, inspection, repair and maintenance services to the oil and gas, mining, shipping, defense and marine infrastructure industries throughout the Northern Territory and Papua New Guinea.
Employees of MIPEC and Taylored Offshore Services are expected to retain their jobs, YTAMS said.
TAMS Managing Director Dyon Pilmoor said, “MIPEC and Taylored Offshore Services present an exciting opportunity for TAMS to expand its business beyond Western Australia and enter the Queensland port and marine services industry. TAMS and MIPEC are similar companies structurally, with similar service offerings, and we see this transaction as a good fit with many synergies, while Taylored Offshore Services strengthens our diving capabilities.”
TAMS said it will take over MIPEC’s current contracts.
“We will work closely to support MIPEC customers and have already commenced engagement with MIPEC personnel and key customers to enable a collaborative transition with minimal disruption to service delivery,” Pilmoor said.
The acquisitions follow recent the firm’s shorebase expansion in Western Australia’s North West. In September last year, TAMS announced it had opened three new permanent shorebases in Dampier and Port Hedland in the Western Australia’s Pilbara, and Broome in the state’s Kimberley region.
“This acquisition marks another step in our growth strategy to create a streamlined marine organization with locally-staffed shorebase locations adjacent to major ports and resource export terminals,” Pilmoor said.
“We continue to build our diverse capability, operational performance and local knowledge enabling TAMS to consistently provide the right solutions to our customers to satisfy their port services, marine maintenance and marine construction requirements.”
TAMS said it will consider further acquisition opportunities after a period of consolidation.