SENET is one of the leading project management and engineering firms in the field of mineral processing in Africa and specialises in project delivery excellence throughout the continent, particularly in gold, copper, cobalt, uranium and iron ore. SENET has also delivered projects in the Middle East, Asia, Europe and South and Central America.
DRA Global is a diversified global engineering, project delivery and operations management group, with a track record spanning over three decades. DRA supports companies in the resources sector to achieve their goals by providing optimal solutions tailored to meet individual client needs throughout the full project lifecycle.
The combined DRA and SENET will have in excess of 3,000 employees in Africa, making the combined business one of the largest project delivery and operations management businesses on the continent. This will further enhance the group's ability to effectively compete on the global stage.
The complimentary merger significantly strengthens the combined service offering across mining and minerals processing, project delivery (EPC and EPCM), operational readiness and full operations and maintenance services in Africa, providing a compelling value proposition to mining clients of all sizes with assets in Africa.
The merger with SENET continues DRA's expansion over the last five years, which has included organic and non-organic growth in North America, Africa and Australia, significantly increasing its global scale and service capabilities.
Wray Carvelas, CEO of DRA Global, commented: "The merger of DRA and SENET in Africa is a logical fit that will bring together two exceptionally successful companies, with complementary skill sets. The merger will bolster the offering to clients in the African projects market and across our global geographies.
"It is our intention to enhance our delivery to clients through this merger and, as such, current and future projects will benefit from the strength SENET brings to the group. We envisage that the companies will retain brand autonomy and operational independence, while leveraging value enhancing capabilities.
"Although our team of professionals continues to grow, our purpose remains the same - to create tangible value for clients through excellence in project delivery, asset optimisation and operations management."
Darren Naylor, MD of SENET, added: "The merger of our two companies just makes good business sense, and we are excited by the prospects and many benefits for the industry at large. The similar corporate cultures, synergies and the potential to create an engineering group that can offer bespoke client solutions on a global scale, yet still specifically target clients with assets in Africa, will undoubtedly present a formidable option for mining clients of all sizes."
The merger transaction is conditional on a number of customary conditions precedent, including regulatory approval, and is expected to complete towards the end of the March 2019 quarter.