MANAGEMENT

Qube broadens horizons with LCR purchase

Qube Holdings has acquired industrial logistics services producer LCR Group in a A$135 million (US$94.1 million) deal that it said will boost its capabilities as well as its services footprint

 Qube's acquisition of LCR was announced on May 10, 2019

Qube's acquisition of LCR was announced on May 10, 2019

The transaction was made official and confirmed on May 10th.

Qube COO Paul Digney said the takeover is significant to the company because it can now deliver an enhanced, broad spectrum of services for mining and industrial applications, including heavy transport, mobile crane, oil/gas and renewables.

Because LCR is also known for its handling solutions in Australia and Papua New Guinea, that will also broaden its presence.

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

The company added: "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."

LCR CEO and managing director Col Partington said its business alignment will continue with both parties under the support umbrella of Qube. Coming together will ‘drive our collective goal' of a greater presences as well as customer focus in Australia and internationally.

"Qube offers a great opportunity for all parties to be part of a growing national logistics business," he said.

Both companies confirmed there will be now immediate forecasted changes to the business. Its first priority focus as a combined entity will be to be to work with management to ensure high service levels continue and that new potentials are both identified and delivered upon.

The companies did not disclose a timeline for the combination to be completed.

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