Construction company Hazell Bros has purchased a portion of VEC Civil Engineering, which was a wholly owned subsidiary of the Downer Group.
The company is a privately-owned, family business operating throughout Tasmania, South East Queensland, Northern New South Wales and Port Pirie in South Australia.
VEC’s precast manufacturing, steel workshop and bridge construction divisions at Ulverstone, Tasmania, have now joined Hazell Bros’ portfolio, which includes civil construction, quarries, concrete, construction material testing, plant hire, transport, asset servicing and industrial services.
This acquisition includes the transfer of the majority of VEC staff and a number of active projects.
A company statement said the move was a significant step in the long-term plan to expand presence in the northern region of the state.
“The acquisition broadens our geographic reach, enhances our capabilities, and strengthens our position in the civil construction sector,” it said.
“Included in this acquisition is the VEC precast manufacturing and steel fabrication workshop – assets that will contribute to the overall growth and diversification of the operations. These additions complement our existing robust civil construction capabilities and position Hazell Bros for even greater success in the years to come.
“As part of the acquisition, we have welcomed approximately 60 new talented individuals into the Hazell Bros business, bringing our total workforce to 800 employees.”
Hazell Bros began in Tasmania in 1944 and has since expanded to cover 800 staff over several states with the recent acquisition.
The core business functions are civil construction, quarries, concrete, construction material testing, plant hire, transport, asset servicing and industrial services.
The ownership of VEC Civil Engineering will remain as part of the Downer Group, and the following projects will continue to be delivered by Downer, under the existing VEC contract arrangements and agreements that are currently in place.
- Department of State Growth Bass Highway, Cam River Bridge Replacement
- Department of State Growth Bass Highway, Tollymore Road, Table Cape Road