Private Companies SPECIAL REPORT

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HE Data & Insights database It had revenue of $1.45 billion has recorded the revenue of last financial year, and that’s just FEATURE Big shifts TWestern Australia’s largest counting its dividends from iron companies for many years and ore miner Fortescue Metals Group highlights how rapidly the busi- and revenue from its agribusiness ness sector has changed. arm. among WA’s Gina Rinehart’s Hancock Pros- Mining contractor Byrnecut pecting has achieved exponential does not have a high public profile growth in the revenue it generates despite growing to be the state’s top players from its iron ore mines. fourth largest private business. It is now well established as the Its biggest direct competitor, state’s largest private company, Barminco, is now part of listed The ranking of WA’s largest helped in large part by the earnings company Perenti Global. from its subsidiary, Roy Hill Hold- Another company to have dis- private companies has ings, which is ranked number two. appeared from the list last year is Another relatively new entrant stockbroker Hartleys, having been Mark Beyer changed dramatically over to the list is Tattarang, which bought by listed competitor Euroz. [email protected] @AMarkBeyer the past decade. houses the rapidly expanding BGC Australia and ABN Group business interests of Andrew and have slipped down the list, reflect- 6-PAGE FEATURE Nicola Forrest. ing the slowdown in residential

HANCOCK PROSPECTING Boost for the ANNUAL REVENUE $10.56bn state’s iron lady Hancock Prospecting Roy Hill Holdings $12bn Iron$7bn ore may dominate revenue $10bn at$6bn Hancock Prospecting, but its $8bn interests$5bn extend to copper, gold $6bn and$4bn agribusiness. $3bn $4bn $2bn $2bn $1bn 0 Matt Mckenzie [email protected] 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 @Matt_Mckenzie_30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20

Tattarang Byrnecut $1.6bn GINA$1.4bn Rinehart and the Hancock The mine and infrastructure $1.4bn family$1.2bn empire again top the list have the capacity to produce $1.2bn of Western Australia’s private 60 million tonnes per annum, $1.0bn $1.0bnROY HILL HOLDINGS businesses, according to Data & with plans to increase output to $800m $800m Insights. 70mtpa. $600mANNUAL REVENUE $600mWhile most of the company’s A new magnetic separator $$400m revenue$400m is generated by Hancock plant completed early in 2020 $200m Prospecting’s$200m 70 per cent share has helped improve yields at the Hancock Prospecting 6.40bnRoy Hill Holdings 0 of Roy Hill Holdings, there’s a mine, with Hancock saying it had $12bn 0 $7bn 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 variety of31-Dec-14 other interests31-Dec-15 in the31-Dec-16 helped31-Dec-17 recover31-Dec-18 4mtpa of31-Dec-19 iron ore $10bn $6bn portfolio, including Atlas Iron at Roy Hill previously wasted. DEVELOPMENT: Gina Rinehart has built the Hancock empire. $8bn $5bn Wilson Parking and Australian Outback Beef.ABN GroupRoy Hill committed about $400 $1.20bn $1.2bnRoy Hill, which mines and million of new capital during the $6bn $4bn ships iron ore from the Pilbara, year, and repaid all its original controls 12.5 per cent, and China $1.15bn$3bn $1.0bn $4bn had a big increase in revenue in loan syndication facilities, the Steel Corporation owns 2.5 per $1.10bn$2bn the 2020 financial year, up 24 per company said. cent. $2bn $800m $1bn cent to $6.4 billion. With the strong iron ore price $1.05bn $600m 0 0 That was significantly up on as a tailwind, Roy Hill earned an Expansive empire 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $1.00bn 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 the$400m $2.3 billion from FY2017, as after-tax profit of $2.2 billion, Hancock’s revenue was $10.6 $950m production$200m ramped up after first up 60 per cent, and paid its first billion for the 2020 financial Tattarang Byrnecut exports in December 2015. dividend of $475 million to the year, according to the company’s $900m 0 $1.6bn $1.4bn All that was as the iron ore owners. annual reports, and it had assets 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $1.4bn $1.2bn price lifted from about $US55 per Japan’s Marubeni Corporation of $21 billion. $1.2bn $1.0bn tonne around July 2016 to around holds a 15 per cent equity interest The company’s value has $1.0bn BGC Australia $US100/t in June 2020. Navitasin Roy Hill, South Korean Posco increased 24,000 per cent since $800m $800m $3.0bn $1.1bn 22$600m | | 23 $600m $2.5bn $1.0bn $400m $400m $2.0bn $900m $200m $200m 0 $1.5bn0 $800m 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 31-Dec-14 31-Dec-15 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19 PB$1.0bn | $700m | PB Wilson Parking $500m ABN Group $600m $1.20bn $1.2bn0 $500m 30-Jun-14 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $1.15bn $1.0bn

$1.10bn $800m $1.05bn $600m

$1.00bn $400m

$950m $200m $900m 0 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20

BGC Australia Navitas $3.0bn $1.1bn

$2.5bn $1.0bn $2.0bn $900m $1.5bn $800m $1.0bn $700m $500m $600m

0 $500m 30-Jun-14 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 FEATURE Private Companies

HE Data & Insights database It had revenue of $1.45 billion construction and the restructur- governments across 10 countries. has recorded the revenue of last financial year, and that’s just ing at BGC. However, the private equi- FEATURE Big shifts TWestern Australia’s largest counting its dividends from iron Many businesses, such as DVG ty-backed business does not companies for many years and ore miner Fortescue Metals Group Automotive Group, Kailis Bros and disclose its annual revenue. highlights how rapidly the busi- and revenue from its agribusiness Pindan, have disappeared from the The ranking of companies would ness sector has changed. arm. list after being bought by big interchange dramatically if different among WA’s Gina Rinehart’s Hancock Pros- Mining contractor Byrnecut national groups. metrics were used. pecting has achieved exponential does not have a high public profile Others, such as Sealanes, have Perron Group, for instance, is growth in the revenue it generates despite growing to be the state’s been absorbed by private equity ranked 13th by revenue. top players from its iron ore mines. fourth largest private business. investors and no longer release But with a large portfolio of shop- It is now well established as the Its biggest direct competitor, annual financial statements. ping centres, office buildings and state’s largest private company, Barminco, is now part of listed Fast-growing companies set to join other investments worth nearly $6 The ranking of WA’s largest helped in large part by the earnings company Perenti Global. the ranks of WA’s largest include veg- billion, it would jump to third if the from its subsidiary, Roy Hill Hold- Another company to have dis- etable producer and retailer Galati ranking was by total assets. private companies has ings, which is ranked number two. appeared from the list last year is Group, currently ranked number 18 Another example is investment Another relatively new entrant stockbroker Hartleys, having been with revenue of $402 million. company Wright Prospecting, Mark Beyer changed dramatically over to the list is Tattarang, which bought by listed competitor Euroz. Another rapidly expanding Perth which is ranked 24th by revenue. [email protected] @AMarkBeyer the past decade. houses the rapidly expanding BGC Australia and ABN Group business is APM, which employs With a net profit of $204 million EARNER: Iron ore mining is the biggest revenue generator for WA’s three largest private business interests of Andrew and have slipped down the list, reflect- more than 6,600 people delivering last financial year, it would rank companies. Photo: FMG 6-PAGE FEATURE Nicola Forrest. ing the slowdown in residential a wide range of human services for third on that criteria.

In coal, Hancock funded per- decision to acquire S Kidman HANCOCK PROSPECTING Boost for the mitting work for development & Co was demonstrated during of Riversdale Resources’ Grassy the year, with flooding across ANNUAL REVENUE Mountain project in Alberta, the channel country notwith- $ state’s iron lady Canada. standing the severe four-year 10.56bn A partnership with Indian con- drought,” the company said. Hancock Prospecting glomerate GVK is developing the “This, together with the Roy Hill Holdings Alpha and Alpha West coal pro- increased use of backgrounding, $12bn Iron ore may dominate revenue $7bn jects in Queensland, although feedlotting and branding drove a $10bn at$6bn Hancock Prospecting, but its little activity appears to have strong net profit after tax result $8bn interests$5bn extend to copper, gold taken place in recent years. of $27.8 million.” Finally, British phosphate While the cattle stations get $6bn $4bn and agribusiness. junior Sirius Minerals was most of the attention, milk pro- $3bn $4bn acquired by AngloAmerican in ducer Bannister Downs Dairy $2bn March, with Hancock to receive is half-owned by Hancock, $2bn $1bn a royalty stream from the busi- while it has been reported Han- 0 Matt Mckenzie [email protected] ness’s project valued at $US250 cock bought peanut farms in 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 @Matt_Mckenzie_30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 million. Queensland. In addition to mining, Hancock Tattarang Byrnecut has an agribusiness interest. In the bank $1.6bn GINA$1.4bn Rinehart and the Hancock The mine and infrastructure The business owns 25 prop - Hancock has $2.6 billion allo- $1.4bn family$1.2bn empire again top the list have the capacity to produce erties, and says it is Australia’s cated in its financial statements $1.2bn of Western Australia’s private 60 million tonnes per annum, second largest beef producer. for dividend payments under its $1.0bn $1.0bnROY HILL HOLDINGS businesses, according to Data & with plans to increase output to Mulga Downs station, Fossil ownership deed. $800m $800m Insights. 70mtpa. Downs, Liveringa and Nerrima But those have not flowed $600mANNUAL REVENUE $600mWhile most of the company’s A new magnetic separator are WA cattle stations owned through to all the family because $$400m revenue$400m is generated by Hancock plant completed early in 2020 directly by Hancock. of arbitration proceedings. $200m Prospecting’s$200m 70 per cent share has helped improve yields at the The company owns two thirds It has been reported the Hope Hancock Prospecting 6.40bnRoy Hill Holdings 0 of Roy Hill Holdings, there’s a mine, with Hancock saying it had of Australian Outback Beef, Margaret Hancock Trust owns 24 $12bn 0 $7bn 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 variety of31-Dec-14 other interests31-Dec-15 in the31-Dec-16 helped31-Dec-17 recover31-Dec-18 4mtpa of31-Dec-19 iron ore which bought the S Kidman & per cent of Hancock Prospecting, $10bn $6bn portfolio, including Atlas Iron at Roy Hill previously wasted. DEVELOPMENT: Gina Rinehart has built the Hancock empire. Co pastoral empire in 2016. with Mrs Rinehart’s children the $8bn $5bn Wilson Parking and Australian Outback Beef.ABN GroupRoy Hill committed about $400 China’s Shanghai CRED con- key beneficiaries. $1.20bn $1.2bnRoy Hill, which mines and million of new capital during the trols the remaining third of the The trust was established in $6bn $4bn ships iron ore from the Pilbara, year, and repaid all its original controls 12.5 per cent, and China Mrs Rinehart took over as chair In addition to the 70 per cent Recent approval for the Kidman stations. 1988, it has been reported, by $1.15bn$3bn $1.0bn $4bn had a big increase in revenue in loan syndication facilities, the Steel Corporation owns 2.5 per in the early 1990s, Hancock said stake in Roy Hill, Hancock has Corunna Downs mine develop- S Kidman says it has 11 pastoral family patriarch, and Mrs Rine- $1.10bn$2bn the 2020 financial year, up 24 per company said. cent. in its annual report. a 50 per cent slice of Rio Tinto’s ment will extend Atlas’s life by stations in Australia with only hart’s father, Lang Hancock. $2bn $800m $1bn cent to $6.4 billion. With the strong iron ore price “[Hancock] is one of the most Hope Downs operations, which five years, Hancock said. one, Ruby Plains, in WA. It had been due to vest in 2011, $1.05bn $600m 0 0 That was significantly up on as a tailwind, Roy Hill earned an Expansive empire successful private companies in produced 47mt in 2020. Hancock has undertaken Ruby Plains is 4,200 square but Mrs Rinehart wrote to her 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $1.00bn 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 the$400m $2.3 billion from FY2017, as after-tax profit of $2.2 billion, Hancock’s revenue was $10.6 Australia’s history, and the most In 2018, Hancock bought Atlas exploration drilling at Mulga kilometres and has about 24,000 four children delaying the pay- $950m production$200m ramped up after first up 60 per cent, and paid its first billion for the 2020 financial successful private mining and Iron. Downs, where it claims an iron head of cattle. ments, leading to an ongoing Tattarang Byrnecut exports in December 2015. dividend of $475 million to the year, according to the company’s agriculture company in Austral- Revenue for Atlas was not pub- ore resource of 290mt. Hancock’s reporting shows a legal dispute that eventually $900m 0 $1.6bn $1.4bn All that was as the iron ore owners. annual reports, and it had assets ia’s history,” the company said. lished in the Hancock report, but It is also exploring for copper 19 per cent increase in Kidman headed to arbitration. 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $1.4bn $1.2bn price lifted from about $US55 per Japan’s Marubeni Corporation of $21 billion. “It is also one of the most suc - the company has said produc - and gold in Ecuador and in Vic - revenue to $74 million. In the past five years, Hancock $1.2bn $1.0bn tonne around July 2016 to around holds a 15 per cent equity interest The company’s value has cessful private mining companies tion was 9mtpa of iron ore in the toria, the latter through Catalyst “[Hancock’s] rationale and has paid $818 million in discre - $1.0bn BGC Australia $US100/t in June 2020. Navitasin Roy Hill, South Korean Posco increased 24,000 per cent since in the world.” Pilbara. Metals. strategy underpinning its tionary dividends. $800m $800m $3.0bn $1.1bn 22$600m | | 23 $600m $2.5bn $1.0bn $400m $400m $2.0bn $900m $200m $200m 0 $1.5bn0 $800m 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 31-Dec-14 31-Dec-15 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19 PB$1.0bn | $700m | PB Wilson Parking $500m ABN Group $600m $1.20bn $1.2bn0 $500m 30-Jun-14 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $1.15bn $1.0bn

$1.10bn $800m $1.05bn $600m

$1.00bn $400m

$950m $200m $900m 0 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20

BGC Australia Navitas $3.0bn $1.1bn

$2.5bn $1.0bn $2.0bn $900m $1.5bn $800m $1.0bn $700m $500m $600m

0 $500m 30-Jun-14 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 Hancock Prospecting Roy Hill Holdings $12bn $7bn $10bn $6bn FEATURE$8bn $5bn PRIVATE COMPANIES $6bn $4bn IT$3bn was only May last year that Tattarang was unveiled Tattarang’s hospitality, sport and entertainment $4bn TATTARANG as$2bn the new name for Andrew and Nicola Forrest’s arm, known as Z1Z, is also a big investor in WA. $2bn family office, but it has rarely been out of the news Its largest development, due to get under way later $1bn ANNUAL REVENUE since. this year, is an $85 million eco-resort at Exmouth, 0 0 $ 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 Formerly known as Minderoo Group, Tattarang’s where it bought 40 hectares of oceanfront land. 1.45bn main asset30-Jun-15 is a 36 per30-Jun-16 cent shareholding30-Jun-17 in30-Jun-18 iron ore 30-Jun-19Another30-Jun-20 WA investment, through property arm miner Fortescue Metals Group. fiveight, was the purchase of a 12-storey office block Tattarang Byrnecut Dividends from Fortescue have enabled Tattarang at 190 St Georges Terrace for more than $50 million. $1.6bn to$1.4bn build a large and rapidly expanding portfolio. Tattarang’s biggest investments are happening out- $1.4bn $1.2bnTattarang’s biggest operating business is Harvest side WA. $1.2bn Road$1.0bn Group, which in turn owns the state’s largest It bought iconic bootmaker and retailer RM Wil- $1.0bn beef$800m processor, Harvey Beef. liams last October for a reported $190 million. $800m It employs more than 600 staff and has annual sales Its energy arm, Squadron Energy, could become the $600m $600m of more than $340 million. group’s largest operation. $400m $400mLike all of Tattarang’s business arms, Harvest Road It has purchased wind farm developer Windlab and $200m is $200mon a rapid growth path. is investing in two greenfields developments. 0 It is spending0 $80 million on a feedlot at Koojan These are a $250 million LNG import terminal at 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 Downs, two31-Dec-14 hours north31-Dec-15 of Perth,31-Dec-16 recently31-Dec-17 acquired 31-Dec-18Port Kembla,31-Dec-19 south of Sydney, and Sun Cable, which two cattle stations in Western Australia’s north, and proposes the establishment of a giant solar farm in Wilson Parking is investing $15 million near AlbanyABN on Group its new aqua- the Northern Territory to supply power to Indonesia. $1.20bn culture$1.2bn venture. - Mark Beyer $1.15bn $1.0bn $1.10bn HAVING$800m held the mantle of Western Australia’s larg- As part of the broader sales strategy, the group est private company several times during its history, initially put the BGC Fibre Cement and BGC Plaster- BGC$1.05bn AUSTRALIA BGC$600m Australia’s revenue has shrunk in recent years board businesses on the market. However, that plan ANNUAL$1.00bn REVENUE after$400m the death of its founder. was shelved as part of its decision to reconsider the Established in 1960 by Len Buckeridge, the Bucker- building and materials division as a core business. $950m $200m $ idge Group of Companies quickly grew to comprise This renewed focus was bolstered by BGC’s bid for $900m1.30bn home building,0 civil construction, contracting and Midland Brick, which was approved by the ACCC last 30-Jun-15 30-Jun-16BGC30-Jun-17 Australia30-Jun-18 30-Jun-19 30-Jun-20 building materials,30-Jun-15 previously30-Jun-16 30-Jun-17 reaching 30-Jun-18 revenues 30-Jun-19December,30-Jun-20 adding to its existing clay brick operations $2.5bn above $2 billion. through Brikmakers. BGC now owns two of the state’s BGC Australia Mr Buckeridge owned the companyNavitas in its entirety three major clay brick suppliers. $2.0bn $3.0bn until$1.1bn his death in 2014, which resulted in his family BGC’s residential division has been the major con- $1.5bn selling-off and restructuring parts of the BGC empire. tributor to its overall revenue. $1.0bn $2.5bn That included the sale of BGC Contracting to NRW The group consolidated more than 12 of its home $1.0bn$2.0bn Holdings$900m for $116.4 million in 2019. brands last year, just before government housing The Aloft Perth and The Westin Perth hotel proper- stimulus measures created a surge in WA homebuild- $500m$1.5bn $800m ties, both developed by BGC, were also sold. ing activity, which resulted in BGC claiming a record $1.0bn0 $700mAn office building on Walters Drive in Herdsman month of new home sales in June of nearly 1,000. $500m 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 was$600m another commercial asset divested by the group, Recent commercial contracts include a $14 million Hancock Prospecting Roy Hill Holdings with Mineral Resources paying $60.5 million for the state government apartment project in Claremont. 0 $500m $12bn $7bn property last year. - Katie McDonald 30-Jun-14 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $10bn $6bn $8bn $5bn $6bn $4bn BYRNECUT Australia in the nation’s largest under- Engineering, Mining Plus, Jetcrete and Raising $3bn $4bn ground mining contractor and has risen two places Australia. BYRNECUT$2bn $2bn on Business News’ private company rankings after The Byrnecut Group now also offers training ANNUAL$1bn REVENUE increasing its annual revenue by almost $160 opportunities and occupational health and safety 0 0 million. services, with its BOAB (Building Opportunities for 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $ 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 Led by managing director Pat Boniwell, the Perth- Aboriginal Business) business for indigenous Aus- 1.15bn based company recorded $1.15 billion in revenue tralians, and health and injury prevention company Tattarang Byrnecut during 2019, according to its most recent financial Sano Health. $1.6bn $1.4bn data from BDO Audit. Byrnecut has positioned itself as one of the $1.4bn $1.2bn The total represented a significant increase on world’s leading underground mining contractors, $1.2bn $1.0bn the $991 million it made in 2018. expanding its operations to Africa, Asia, the Middle $1.0bn $800m During that same period, the company also East and Europe. $800m acquired assets valued at $62 million, taking its The company operates nine projects nationally, $600m $600m asset total to $643 million. including works on EMR Capital’s Golden Grove $400m $400m Since its launch in Kalgoorlie in 1987, Byrnecut has Mine in Geraldton and Saracen Metals’ gold mine $200m $200m grown to employ more than 2,700 people in Western in Leonora. 0 0 Australia and successfully secure long-term mine Byrnecut has experienced continued growth this 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 31-Dec-14 31-Dec-15 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19 development and production contracts, supplying year, with Adelaide-based mining company OZ Min- management, labour, equipment, materials, and erals announcing that Byrnecut would take over Wilson Parking ABN Group construction services, as well as mine design work. as its underground mining contractor earlier this $1.20bn $1.2bn During the past decade, the company has diver - month. sified and expanded, establishing mining, drilling The contract, which will continue for five years, $1.15bn $1.0bn and consultancy businesses Byrnecut Offshore, is said to be valued at about $650 million. $1.10bn $800m Pinjarra-based Murray Engineering, Quattro Project - Jesinta Burton $1.05bn $600m 24 | | 25 $1.00bn $400m

$950m $200m $900m 0 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 PB | | PB BGC Australia Navitas $3.0bn $1.1bn

$2.5bn $1.0bn $2.0bn $900m $1.5bn $800m $1.0bn $700m $500m $600m 0 $500m 30-Jun-14 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 Hancock Prospecting Roy Hill Holdings $12bn $7bn $10bn $6bn $8bn $5bn $6bn $4bn $3bn $4bn $2bn $2bn $1bn 0 0 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20

Hancock Prospecting Roy Hill Holdings Tattarang Byrnecut $12bn $7bn $1.6bn $1.4bn $10bn $6bn $1.4bn $1.2bn $1.2bn $8bn $5bn $1.0bn FEATURE PRIVATE COMPANIES PRIVATE$1.0bn COMPANIES FEATURE $4bn $800m $6bn $800m IT$3bn was only May last year that Tattarang was unveiled Tattarang’s hospitality, sport and entertainment A $600m GLANCE at Wilson Parking’s top-line figures have suffered months without any significant $4bn $600m as the new name for Andrew and Nicola Forrest’s arm, known as Z1Z, is also a big investor in WA. indicates a robust performance for the Hong Kong- patronage. TATTARANG $2bn WILSON$400m PARKING $400m $2bn family office, but it has rarely been out of the news Its largest development, due to get under way later based outfit, with revenue static at $1.14 billion. As the pandemic recedes and Australians return $1bn $200m $200m ANNUAL REVENUE since. this year, is an $85 million eco-resort at Exmouth, However, a $20 million drop in profitability has to some degree of normalcy, revenue from parking 0 ANNUAL0 REVENUE Formerly0 known as Minderoo Group, Tattarang’s where it bought 40 hectares of oceanfront land. left the0 company nursing a $19 million loss this past should restore the company’s profitability, given its $ 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $ 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 31-Dec-14 31-Dec-15 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19 1.45bn main asset is a 36 per cent shareholding in iron ore Another WAHancock investment, Prospecting through property arm Roy Hill Holdings financial year. revenue has not fallen below $1 billion since 2015. miner Fortescue Metals Group. $12bn fiveight, was the purchase of a 12-storey office block 1.14bn That will no doubt come as a disappointing result Its range of diversified interests should also help Tattarang Byrnecut $7bn Wilson Parking ABN Group Dividends from Fortescue have enabled Tattarang at 190 St Georges Terrace for more than $50 million. for a company that recorded profit of close to $40 keep the company afloat in the interim. $1.6bn $10bn $1.20bn$6bn to$1.4bn build a large and rapidly expanding portfolio. Tattarang’s biggest investments are happening out- million$1.2bn as recently as 2016. Among a notable list is a $1.5 million contract with $1.4bn $5bn $1.2bnTattarang’s biggest operating business is Harvest$8bn side WA. $1.15bn $1.0bnWhile the most recent result has done little to the Department of Fire and Emergency Services to $1.2bn Road$1.0bn Group, which in turn owns the state’s largest It bought iconic bootmaker and retailer RM Wil- $4bn dent Wilson’s standing on the private companies undertake monitoring of sites in Cockburn, as well $6bn $1.10bn $800m $1.0bn beef processor, Harvey Beef. liams last October for a reported $190 million. $3bn list, given it remains in fifth place, it does show as a $1.5 million contract to oversee hotel quarantin - $800m $4bn $800m It employs more than 600 staff and has annual sales Its energy arm, Squadron Energy, could become the $1.05bn that$600m no business has been left untouched by the ing on behalf of the Department of Health. $600m $2bn $600m of more than $340 million. $2bn group’s largest operation. COVID-19 pandemic. Revenue from these sources make up a smaller $1.00bn$1bn $400m $400m $400mLike all of Tattarang’s business arms, Harvest Road It has purchased wind farm developer Windlab and Wilson, which is anchored by its parking facilities part of the company’s overall result but will likely 0 $950m0 $200m is $200mon a rapid growth path. is investing in two greenfields developments. in$200m and around Perth’s CBD and other capital cities grow in importance as Wilson considers whether 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 0 It is spending0 $80 million on a feedlot at Koojan These are a $250 million LNG import terminal at $900m in Australia,0 can chalk up the loss in part to fewer parking fees are as guaranteed a source of recurrent 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 Downs, two31-Dec-14 hours north31-Dec-15 of Perth,31-Dec-16 recently31-Dec-17 acquired 31-Dec-18Port Kembla,31-Dec-19 southTattarang of Sydney, and Sun Cable, which 30-Jun-15 30-Jun-16 30-Jun-17Byrnecut30-Jun-18 30-Jun-19 30-Jun-20 people travelling30-Jun-15 to 30-Jun-16work in the30-Jun-17 city throughout30-Jun-18 30-Jun-19income30-Jun-20 as they once were. two cattle stations in Western Australia’s north, and proposes the establishment of a giant solar farm in 2020. - Jordan Murray $1.6bn $1.4bn Wilson Parking is investing $15 million near AlbanyABN on Group its new aqua- the Northern Territory to supply power to Indonesia. Some markets, such as Perth,Navitas have recovered $1.4bn $1.2bn BGC Australia culture venture. - Mark Beyer quickly, while the likes of Sydney and Melbourne $1.20bn $1.2bn $1.2bn $3.0bn $1.1bn $1.0bn $1.15bn $1.0bn $1.0bn $2.5bn$800m $1.0bn $800m ABN Group has weathered the ups and downs in total revenue (consolidated) increasing by 3 per $1.10bn HAVING held the mantle of Western Australia’s larg- As part of the broader sales strategy, the group $800m $2.0bn$600m $900m est private company several times during its history,$600m initially put the BGC Fibre Cement and BGC Plaster- ABN GROUP of the housing market during its decades in the cent for the year to June 30 2020. BGC$1.05bn AUSTRALIA $400m BGC$600m Australia’s revenue has shrunk in recent$400m years board businesses on the market. However, that plan $1.5bn business.$800m Just 47 per cent of the business’s total builds were after the death of its founder. $200m was shelved as part of its decision to reconsider the ANNUAL$200m REVENUE Established in 1978 and headed by co-founder and based in WA, positioning it in second place behind ANNUAL$1.00bn REVENUE $400m $1.0bn $700m Established in 1960 by Len Buckeridge, the Bucker0- building and materials division as a core business. 0 managing director Dale Alcock and chief executive BGC Australia for most WA housing starts. $950m $200m $ $ idge Group of Companies quickly grew to comprise 30-Jun-15This renewed30-Jun-16 focus30-Jun-17 was bolstered30-Jun-18 by30-Jun-19 BGC’s bid30-Jun-20 for $500m 31-Dec-14 31-Dec-15 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19 Andrew$600m Roberts, the private company is one of the Overall, ABN Group achieved 3,247 home starts across 985m state’s largest homebuilders. Australia, making it the fourth largest homebuilder in $900m1.30bn home building,0 civil construction, contracting and Midland Brick, which was approved by the ACCC last $500m 0 In recent years, ABN Group has worked to lift rev- the country, down one spot on the previous year. 30-Jun-15 30-Jun-16BGC30-Jun-17 Australia30-Jun-18 30-Jun-19 30-Jun-20 building materials,30-Jun-15 previously30-Jun-16 30-Jun-17 reaching 30-Jun-18 revenues 30-Jun-19December,30-Jun-20 addingWilson to its existingParking clay brick operations 30-Jun-14 30-Jun-15 ABN30-Jun-16 Group30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $2.5bn above $2 billion. $1.20bn through Brikmakers. BGC now owns two of the state’s $1.2bn enue to levels approaching the $1 billion it achieved ABN could boost output in 2021 thanks to the state in 2015 (a year when dwelling approvals across the government launching its own COVID-19 housing BGC Australia Mr Buckeridge owned the companyNavitas in its entirety$1.15bn three major clay brick suppliers. $1.0bn $2.0bn country reached record highs). stimulus package, on top of federal grants. $3.0bn until$1.1bn his death in 2014, which resulted in his family BGC’s residential division has been the major con- $1.10bn $800m During that time the group expanded into the ABN has six homebuilder brands, including Cele- $1.5bn selling-off and restructuring parts of the BGC empire. tributor to its overall revenue. $2.5bn $1.0bn Victorian market; a move that would shelter it from bration Homes and Webb & Brown-Neaves, and has That included the sale of BGC Contracting to$1.05bn NRW The group consolidated more than 12 of its home $600m $1.0bn Holdings$900m for $116.4 million in 2019. brands last year, just before government housing the subsequent decline in housing activity in West- diversified into medium-density developments via $2.0bn $1.00bn $400m The Aloft Perth and The Westin Perth hotel proper- stimulus measures created a surge in WA homebuild- ern Australia. Parcel Property. $500m$1.5bn $800m ties, both developed by BGC, were also sold. $950m ing activity, which resulted in BGC claiming a record $200m While demand for houses in WA tapered off, new Resolve Finance and Resolve Home Loans also fall $700m dwelling starts continued to rise in Victoria, as under the ABN Group banner, with Dale Alcock Pro- $1.0bn0 An office building on Walters Drive in Herdsman$900m month of new home sales in June of nearly 1,000. 0 reflected in the group’s latest financial results. jects and PACT representing its construction division. $500m 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 was$600m another commercial asset divested by the group, 30-Jun-15 Recent30-Jun-16 commercial30-Jun-17 contracts30-Jun-18 include30-Jun-19 a $14 million30-Jun-20 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 Hancock Prospecting Roy Hill Holdings with Mineral Resources paying $60.5 million for the state government apartment project in Claremont. Revenue from WA contracts fell by 5.1 per cent over The group additionally provides support ser - $12bn 0 $500m the 2019-20 financial year to $531 million. vices (including plumbing, ceiling and custom-made $7bn property last year. BGC Australia - Katie McDonald Navitas 30-Jun-14 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 Meanwhile, revenue from the builder’s Victo- kitchen works). $10bn $6bn $3.0bn $1.1bn ria-based operations was up 15.7 per cent, resulting - Katie McDonald $8bn $5bn $2.5bn $1.0bn $6bn $4bn BYRNECUT Australia in the nation’s largest under$2.0bn- Engineering, Mining Plus, Jetcrete and Raising $900m $3bn $4bn ground mining contractor and has risen two $1.5bnplaces Australia. $800m BYRNECUT$2bn on Business News’ private company rankings after The Byrnecut Group now also offers training $2bn $1.0bn $700m ANNUAL$1bn REVENUE increasing its annual revenue by almost $160 opportunities and occupational health and safety 0 0 million. $500m services, with its BOAB (Building Opportunities for $600m 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 $ 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 Led by managing director Pat Boniwell, the Perth-0 Aboriginal Business) business for indigenous Aus- $500m 1.15bn based company recorded $1.15 billion in revenue tralians, and health and injury prevention company 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 30-Jun-14 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 Tattarang Byrnecut during 2019, according to its most recent financial Sano Health. $1.6bn $1.4bn data from BDO Audit. Byrnecut has positioned itself as one of the $1.4bn $1.2bn The total represented a significant increase on world’s leading underground mining contractors, $1.2bn $1.0bn the $991 million it made in 2018. expanding its operations to Africa, Asia, the Middle $1.0bn $800m During that same period, the company also East and Europe. $800m acquired assets valued at $62 million, taking its The company operates nine projects nationally, $600m $600m asset total to $643 million. including works on EMR Capital’s Golden Grove $400m $400m Since its launch in Kalgoorlie in 1987, Byrnecut has Mine in Geraldton and Saracen Metals’ gold mine $200m $200m grown to employ more than 2,700 people in Western in Leonora. 0 0 Australia and successfully secure long-term mine Byrnecut has experienced continued growth this 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 31-Dec-14 31-Dec-15 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19 development and production contracts, supplying year, with Adelaide-based mining company OZ Min- management, labour, equipment, materials, and erals announcing that Byrnecut would take over Wilson Parking ABN Group construction services, as well as mine design work. as its underground mining contractor earlier this $1.20bn $1.2bn During the past decade, the company has diver - month. sified and expanded, establishing mining, drilling The contract, which will continue for five years, $1.15bn $1.0bn and consultancy businesses Byrnecut Offshore, is said to be valued at about $650 million. $1.10bn $800m Pinjarra-based Murray Engineering, Quattro Project - Jesinta Burton $1.05bn $600m 24 | | 25 $1.00bn $400m

$950m $200m $900m 0 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19 30-Jun-20 PB | | PB BGC Australia Navitas $3.0bn $1.1bn

Still, it’s a stark outcome given the business enrolments brought in more than $500 million to NAVITAS was acquired for more than $2 billion in 2019 at the state’s institutions. the behest of BGH Capital, AusSuper and founder International travel is unlikely to resume until ANNUAL REVENUE Rod Jones, who had expressed frustrations with 2022, meaning fees from international students the ASX’s compliance requirements prior to the will contribute next to the nothing to the sector $ company delisting. for this year at least. 943m Mr Jones was on record as being critical of Navitas can cushion the blow by embracing THE second appearance by Navitas on Data & Insights’ private busi- having to deliver dividends to shareholders in domestic enrolments, as chief executive Scott ness list has the education services provider falling to eighth place the short term with the move to private investors Jones has already indicated. on the back of a $17 million decline in revenue. reflecting a desire to embrace long-term investors. It’s more than likely, though, that economic While that represents a minor slip in revenue for the company, it That has proved difficult given the international headwinds may test the durability of the compa- disguises a dramatic $120 million fall in profitability that left Navitas education market, which has been riven by the ny’s delisting, let alone the premise that privately recording an $80 million loss. COVID-19 pandemic. run education providers can compete with the The reasons for that outcome are myriad, with asset write-downs, Western Australia’s universities have been pum- established cadre of publicly funded institutions. goodwill impairments and other liabilities considered key factors in melled by the loss of international students as a the result. recurrent revenue stream, given fees from these - Jordan Murray

Global Poker was responsible for $142.7 million, In April 2020, the company paid an unfranked VGW HOLDINGS while $104.8 million was from its new game, Lucky- 2-cent dividend to shareholders, distributing a total land Slots. of $11.3 million. ANNUAL REVENUE Revenue from Global Poker fell in the first half of VGW’s bumper year has meant it is now ranked $ the 2020 financial year but managed to recover in the eighth on the Business News Data & Insights list of 779m second half of the year. private businesses, up from 18th spot in 2019. In its annual report, VGW said the period from Jan- Company founder Laurence Escalante was named VIRTUAL Gaming World Holdings more than doubled its profits in 2020, uary to June 2020 had been an exceptional time for on the Australian Financial Review’s Young Rich List partly due to people having more time to play online games during the the company’s results, due to the pandemic. with an estimated wealth of $900 million. COVID-19 pandemic. “While a challenging time operationally for our Mr Escalante founded the company in 2010. It now VGW posted a profit of $72.1 million in 2020, up from $27.9 million in staff and key stakeholders, providing our entertain- has a portfolio of more than 80 games and employs the 2019 financial year. ment services consumed primarily on mobile devices 400 staff in Perth, Sydney, the US, the Philippines Revenue increased by 122 per cent, from $351.3 million to $778.8 million is very popular for our customers,” it said. and Malta. in 2020. “An environment of reduced travel, working from Most of its customers are in the US and Canada. Most of the revenue ($531.8 million) came from social gambling site home, and more flexible time have all contributed to Chumba Casino, a game the company launched in 2012. increased demand for our offerings.” - Madeleine Stephens

Equipment Australia business, was of ELB Equipment. These include a $25 million contract with Century CFC GROUP That made it the leading distributor of Ditch Witch Mining in Queensland. and Komptech equipment. It has also secured extra work with supermarket ANNUAL REVENUE A more significant acquisition, completed in 2019, operator Brindle Group in Karratha and negotiated a was a stake in Victorian company Dunstans. contract extension at the Sino Iron project in the Pilbara. $ Since the acquisition, Dunstans has delivered some Centurion has made five acquisitions in recent years. 651m big contract wins. These include Regal Transport’s general haulage SEVEN acquisitions during the past six years have bolstered the growth It has secured a long-term services contract with business in WA, Triton Transport Services, and part of of diversified industrial company CFC Group. Fortescue Metals Group for the design and construc- FuelTrans’ WA operations. Led by executive chairman Philip Cardaci, the group lifted revenue last tion of dewatering infrastructure across its Pilbara Its fleet has grown to more than 2,000 vehicles. financial year to $651 million, according to the annual report of parent mines. As well as its operating businesses, CFC owns Birch- company Contura Mining Pty Ltd. A joint venture between Dunstans and CFC’s con- mead Property Group. The group posted a net profit of $8.6 million and declared annual divi- tracting arm, Cape, won a $70 million contract to design Birchmead’s projects range from industrial land in dends of $10 million. and construct a reticulated water supply to up to 1,500 Rockingham to an apartment development in West Perth. CFC’s revenue has grown from about $400 million in 2015, with the group rural properties in Victoria. It has also partnered with Hesperia on projects in employing more than 1,200 people across Australia. CFC’s trucking and logistics business, Centurion, has Middle Swan and Murdoch. Its most recent acquisition, completed last year through its Construction also racked up some notable wins. - Mark Beyer

John Georgiou has turned to public lobbying to help It was recently named preferred proponent (with GEORGIOU GROUP the family company win more work. BMD) for a major Mitchell Freeway extension. As founding chair of Australian Owned Contrac- Georgiou also has won big road projects in Queens- ANNUAL REVENUE tors, he represents a dozen mid-sized firms wanting to land and NSW, which account for about half the take work off the foreign owned tier one contractors group’s annual revenue. $ such as Acciona, CPB Contractors and John Holland. Outside the roads sector, its major projects include 608m The campaign has delivered considerable success, an expansion of Ramsay Health Care’s Hollywood PETER Georgiou has overseen dynamic growth of the family business he with many big projects carved up into smaller pack- Private Hospital and Brightwater Care Group’s Ingle- started in 1977 as Direct Drainage. ages that suit local firms. wood complex. Now led by his son, John, Georgiou Group is a diversified civil, engi- A case in point is the $400 million Tonkin Gap pro- Georgiou was one of four builders selected last neering and construction contractor with operations across Western ject, which Georgiou won last year in joint venture with year to progress through to the tendering stage for Australia and the eastern states. BMD Constructions, WA Limestone, BG&E and GHD. the $256 million expansion of Joondalup Health Its revenue jumped 25 per cent to $608 million last financial year, Georgiou’s other major road projects in WA include Campus. helped by the surge in government infrastructure spending. the $118 million High Street upgrade in Fremantle, and However, that contract was awarded this month Nationally, the group has 35 projects under way and more than 650 the $86 million upgrade of the Roe Highway and Kal- to Multiplex. staff. amunda Road interchange. - Mark Beyer 26 | | 27

PB | | PB FEATURE PRIVATE COMPANIES PRIVATE COMPANIES FEATURE

Global Poker was responsible for $142.7 million, In April 2020, the company paid an unfranked Those mining royalties were particularly useful to Despite the write-downs, Perron Group’s net assets VGW HOLDINGS while $104.8 million was from its new game, Lucky- 2-cent dividend to shareholders, distributing a total PERRON GROUP the group last financial year, when its revenue was overall were most recently valued at $3.1 billion, plac- land Slots. of $11.3 million. boosted by a rise in iron ore royalty receipts. ing it in a strong financial position. ANNUAL REVENUE Revenue from Global Poker fell in the first half of VGW’s bumper year has meant it is now ranked ANNUAL REVENUE Perron Group achieved $606.9 million in annual After the death of its founder in 2018, the business’s Business the 2020 financial year but managed to recover in the eighth on the Business News Data & Insights list of revenue for 2019-20, ranking it 12th on the portfolio was structured to provide the greater major- $ $ News second half of the year. private businesses, up from 18th spot in 2019. list of private companies, down two spots from ity of the group’s assets and future earnings to the 779m 607m the previous year. Stan Perron Charitable Foundation. In its annual report, VGW said the period from Jan- Company founder Laurence Escalante was named VIRTUAL Gaming World Holdings more than doubled its profits in 2020, uary to June 2020 had been an exceptional time for on the Australian Financial Review’s Young Rich List PERRON Group has long been among Western Australia’s largest pri- In the year to June 2020, Perron Group reported Since its inception in the 1960s, Perron Group has partly due to people having more time to play online games during the the company’s results, due to the pandemic. with an estimated wealth of $900 million. vate companies, with its conservative approach to business a defining a rare annual net loss of $304 million as a result of maintained a sustainable growth trajectory, reflected in COVID-19 pandemic. “While a challenging time operationally for our Mr Escalante founded the company in 2010. It now characteristic. asset write-downs, largely involving its investment the modest increases in revenue over the past five years. VGW posted a profit of $72.1 million in 2020, up from $27.9 million in staff and key stakeholders, providing our entertain- has a portfolio of more than 80 games and employs Founded by the late Stan Perron, a prominent businessman and phi- properties. Reinforcing the group’s confidence in the future the 2019 financial year. ment services consumed primarily on mobile devices 400 staff in Perth, Sydney, the US, the Philippines lanthropist, the group’s core interests are in property ownership, land The group’s property portfolio includes CBD office is its recent $1 billion investment into a new town Revenue increased by 122 per cent, from $351.3 million to $778.8 million is very popular for our customers,” it said. and Malta. development and the automotive industry, as the sole WA distributor of tower Central Park (50 per cent ownership), and sev- centre for Cockburn, a 20-year plan proposing shop- in 2020. “An environment of reduced travel, working from Most of its customers are in the US and Canada. Toyota vehicles and products. eral shopping centres; Cockburn Gateway, Belmont ping centre upgrades, as well as new residential and Most of the revenue ($531.8 million) came from social gambling site home, and more flexible time have all contributed to The group has additional holdings in infrastructure assets (including Forum, Galleria Shopping Centre and The Square commercial towers. Chumba Casino, a game the company launched in 2012. increased demand for our offerings.” - Madeleine Stephens airports), managed equities, and Rio Tinto iron ore royalties. Mirrabooka. - Katie McDonald

Equipment Australia business, was of ELB Equipment. These include a $25 million contract with Century Like many in the automotive retail sector, the to three offices and employing 400 staff. CFC GROUP That made it the leading distributor of Ditch Witch Mining in Queensland. JOHN HUGHES GROUP company has faced temporary factory shutdowns, The group has diversified in recent years, now and Komptech equipment. It has also secured extra work with supermarket which have led to delivery delays of up to three operating its own insurance company, a finance ANNUAL REVENUE A more significant acquisition, completed in 2019, operator Brindle Group in Karratha and negotiated a ANNUAL REVENUE months and, subsequently, fewer trade-ins. company, and offering roadside assistance. was a stake in Victorian company Dunstans. contract extension at the Sino Iron project in the Pilbara. Stock level issues aside, Western Australia’s auto - The company has enjoyed a high profile thanks $ Since the acquisition, Dunstans has delivered some Centurion has made five acquisitions in recent years. $ motive retail sector remained relatively untouched to Mr Hughes’ high profile and prominence in 651m big contract wins. These include Regal Transport’s general haulage 462m by the COVID-19 pandemic, with data from the advertising across various mediums for several SEVEN acquisitions during the past six years have bolstered the growth It has secured a long-term services contract with business in WA, Triton Transport Services, and part of DESPITE the challenges posed by the COVID-19 pandemic, revenue Federal Chamber of Automotive Industries indi - decades. of diversified industrial company CFC Group. Fortescue Metals Group for the design and construc- FuelTrans’ WA operations. for one of Australia’s largest car-retailing sites is still expected to cating that more than 89,400 new vehicles were The group stocks a variety of brands, including Led by executive chairman Philip Cardaci, the group lifted revenue last tion of dewatering infrastructure across its Pilbara Its fleet has grown to more than 2,000 vehicles. increase this financial year. purchased in WA in 2020, representing a fall of just Mitsubishi, Hyundai, Volkswagen, Kia, Ford, Geely, financial year to $651 million, according to the annual report of parent mines. As well as its operating businesses, CFC owns Birch- Led by chairperson John Hughes, the company recorded $462 mil- 2.7 per cent on the previous period. ZX Auto, Chrysler, Jeep, and Dodge. company Contura Mining Pty Ltd. A joint venture between Dunstans and CFC’s con- mead Property Group. lion in revenue during the 2019-20 financial year. Almost 9,100 new cars were sold in WA in Decem - - Jesinta Burton The group posted a net profit of $8.6 million and declared annual divi- tracting arm, Cape, won a $70 million contract to design Birchmead’s projects range from industrial land in The figure represented a $21 million decrease on the previous year. ber, an increase of more than 26 per cent on the dends of $10 million. and construct a reticulated water supply to up to 1,500 Rockingham to an apartment development in West Perth. John Hughes Group told Business News it expected revenue to same time last year. CFC’s revenue has grown from about $400 million in 2015, with the group rural properties in Victoria. It has also partnered with Hesperia on projects in have increased to $485 million this financial year, but that it was The John Hughes Group started business in Vic - employing more than 1,200 people across Australia. CFC’s trucking and logistics business, Centurion, has Middle Swan and Murdoch. dependent on the company’s ability to obtain stock. toria Park more than five decades ago, expanding Its most recent acquisition, completed last year through its Construction also racked up some notable wins. - Mark Beyer

John Georgiou has turned to public lobbying to help It was recently named preferred proponent (with The business is majority owned by the Giumelli Fortec recently won a $10 million contract to GEORGIOU GROUP the family company win more work. BMD) for a major Mitchell Freeway extension. ERTECH family, which has a 53.1 per cent stake, but also has a upgrade wharf four at Geraldton port. As founding chair of Australian Owned Contrac- Georgiou also has won big road projects in Queens- large number of employee shareholders. Ertech has also been adding to its own order book, ANNUAL REVENUE tors, he represents a dozen mid-sized firms wanting to land and NSW, which account for about half the ANNUAL REVENUE A big contributor to the group’s FY20 results was with recent wins including contracts with Main take work off the foreign owned tier one contractors group’s annual revenue. Duratec, which specialises in the protection and Roads WA to upgrade the South Coast Highway $ such as Acciona, CPB Contractors and John Holland. Outside the roads sector, its major projects include $ remediation of assets such as high-rise buildings, near Albany, and the City of Swan for the design 608m The campaign has delivered considerable success, an expansion of Ramsay Health Care’s Hollywood 447m bridges and dams. and construction of a new bridge near Gidgegannup. PETER Georgiou has overseen dynamic growth of the family business he with many big projects carved up into smaller pack- Private Hospital and Brightwater Care Group’s Ingle- WANGARA-BASED Ertech has grown to be one of Western Australia’s With 675 personnel, Duratec contributed $12.2 mil- It has also won contracts with Fortescue Metals started in 1977 as Direct Drainage. ages that suit local firms. wood complex. largest private companies, but its profile has changed substantially after lion in profit and $247 million in revenue to Ertech’s Group, Yara Pilbara Nitrates and NSW’s transport Now led by his son, John, Georgiou Group is a diversified civil, engi- A case in point is the $400 million Tonkin Gap pro- Georgiou was one of four builders selected last the stock market float late last year of its former subsidiary, Duratec. FY20 results. department. neering and construction contractor with operations across Western ject, which Georgiou won last year in joint venture with year to progress through to the tendering stage for Ertech reported modest growth in revenue to $447 million for the Its results will not be consolidated in future, as - Mark Beyer Australia and the eastern states. BMD Constructions, WA Limestone, BG&E and GHD. the $256 million expansion of Joondalup Health year to June 2020, along with a strong lift in net profit to $22.2 million. Ertech’s shareholding has been diluted form 50.7 per cent Its revenue jumped 25 per cent to $608 million last financial year, Georgiou’s other major road projects in WA include Campus. The 2020 results highlighted how far the group has come since it was to 19.9 per cent as part of Duratec’s initial public offering. helped by the surge in government infrastructure spending. the $118 million High Street upgrade in Fremantle, and However, that contract was awarded this month established by Jim Giumelli in Subiaco in 1981. Ertech’s results will continue to include its Nationally, the group has 35 projects under way and more than 650 the $86 million upgrade of the Roe Highway and Kal- to Multiplex. From an initial focus on land sub-divisions, Ertech has become a specialist construction and engineering contractor, staff. amunda Road interchange. - Mark Beyer diversified civil contractor with more than 1,000 staff across Australia. Fortec, in which it retains a majority stake. 26 | | 27

PB | | PB Private Companies SPECIAL REPORT

Data & Insights

Showing 6 of 6,652 Private companies deliver strong growth Agribusiness Property Attachment Size Private Business_special report.pdf 5.03 MB Engineering and construction ... that may be affected by outstanding claims and variations. The company said the value of contingent ... Iron ore boosts private companies SPECIAL REPORT: Western Australia’s iron ore industry has reshaped the BNiQ ranking of the state’s largest private companies. ... The Private Company Pay Controversy Allan Feinberg Business Advice (Sponsored Content) Remuneration and Reward Many private company ... ‘work’ because it’s easy to profit due to poorly designed schemes, or possibly because private company ... SHOULD EQUITY BE OFFERED TO PRIVATE COMPANY EXECUTIVES AS PART OF THEIR REMUNERATION PACKAGE? Many ... ATO releases major private company data for second year The financial affairs of numerous previously low-key unlisted or foreign-owned companies headquartered in Western Australia have been released by the Australian Taxation Office for the second year running. ... Private companies seek growth capital A series of major trade sales and the prospect of one of WA’s biggest-ever IPOs were highlights in what remained subdued capital markets in the September quarter. Also in our special report, how a surge in backdoor listings is attracting Silicon Valley ent ... Strong foundations for private companies magnates like Gina Rinehart who can make it big in the private business world. By Mark Pownall Special ... injury to a fuel delivery driver. The company was fined $50,000 in Perth Magistrate’s Court yesterday ...

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