Orcoda to acquire transport services business Betta Group for $5 million as a combination of securities and cash
Betta Group customer base includes Aurizon, Ergon Energy, Queensland Rail, PowerLink, Q-Build, Australian Defence Force and the Bowen Basin mining industry
The Betta Group achieved $9 million revenue and EBITDA of A$2.1 million in FY 2020
Orcoda Limited (ASX: ODA) (‘Orcoda’ or ‘the Company’), the transport logistics and services optimisation company, is pleased to announce that it has entered into a Share Purchase Agreement (‘SPA’) to purchase 100% of the shares in Betta Group of Companies Qld Pty Ltd (‘BGC’) (the ‘Transaction’).
BGC is exposed to growing infrastructure markets in Central Queensland which is likely to grow further with significant government stimulus to occur in major infrastructure because of its “essential services” status.
BGC’s key business is transport services. It also is a fully licensed asbestos demolition contractor which is required for certain associated projects and runs a smaller business unit in Rockhampton under franchise called ‘Hydrokleen’.
BGC achieved A$9 million revenue and an EBITDA of A$2.1 million in the financial year ending 30 June 2020.
Geoff Williams, Betta Group founder and Managing Director