Following the first pure bank referral from CBA, one of Australia's largest and fastest-growing general aviation and tourism providers, HM Consolidated Pty Ltd (HMC Group) will receive a $15 million investment from the Australian Business Growth Fund.
ABGF provides an opportunity for ambitious SMEs to scale up domestically and thrive, which in turn will support job creation and economic growth for Australia.
HMC Group has experienced exceptional growth over the past decade, underpinned by its commitment to servicing regional Western Australian businesses, communities, and the tourism sector. This growth has been delivered through strategic acquisitions and ongoing re-investment by the business in growing its accommodation and tourism offerings, rotary-wing, and fixed-wing aviation services.
Scale has given HMC Group the voice to advocate for the continued economic development of the Kimberley and Pilbara regions and the ability to attract an exceptional team to its regional operations.
Commonwealth Bank Group Executive of Business Banking, Mike Vacy-Lyle said: "CommBank is proud to play a role in supporting the ABGF's first west coast investment.
"CommBank has been supporting the progress of regional Australia for over 100 years and is excited to be a part of HMC Group's continued expansion, growing its aviation fleet and expanding its network infrastructure to increase regional connectivity.
"As the first pure bank referral to the fund, this announcement highlights the opportunity CBA's partnership with ABGF creates for Australian businesses to scale and thrive."
Anthony Healy, Chief Executive Officer of ABGF said: "We're excited about this investment in the HMC Group. The business is supporting the connectivity and economic development of regional Western Australia and beyond. HMC Group has built an impressive operation and reputation and has great potential to continue to further scale.
"HMC Group continues to grow by providing transportation services to geographically dispersed communities, direct local employment opportunities (including indigenous employment opportunities), and through its continued and ongoing investment in the region."
Michael McConachy, Managing Director of HMC Group said: "We are delighted to partner with ABGF. I know their team will challenge us on our ideas and provide invaluable corporate experience to assist our businesses to grow. The investment will support the growing demand for our high quality aviation and tourism services and assist HMC to continue to grow its aviation fleet and expand its network infrastructure. My aim is to leave a worthwhile legacy in the state of WA, knowing that we have contributed something of value to the regional communities in which we live and operate, and the State as a whole. We look forward to further increasing our regionally based operations."
The HMC Group seeks to connect regional Western Australia and beyond through:
- The provision of essential transport services for residents of regional and remote communities to access employment opportunities within large scale national projects and worksites, thereby enabling regional employment;
- Offering regular passenger transport services that connect regional towns and cities;
- Enabling community access for health and social services;
- Providing tourism experiences for local, intrastate, interstate and international travelers to explore regional WA.
