Buyer needed to save 90 jobs at 50-year-old Ipswich company

 

A BUYER is being sought to save more than 90 jobs at a construction company operating in Ipswich for half a century.

Bachmann Plant Hire Pty Ltd was put into administration on September 5 when an insolvency firm was appointed to its parent company, MRS Services Group.

Expressions of interest are now sought for the purchase of the BPH business and assets as a going concern.

The company has an annual turnover of $17million, according to the sale notice.

Bachmann Plant Hire.
Bachmann Plant Hire. Cordell Richardson

Administrator Sule Arnautovic of Jirsch Sutherland hoped Bachmann Plant Hire and MRS Services Group would sell as a going concern or through a restructure of the company.

"Interest levels in both Bachmann and MRS have been pleasing at this early stage," Mr Arnautovic said.

"Interest is still untested and is only indicative at this time.

"If the business is sold as a going concern, we would hope the majority of staff would transition their employment to the relevant purchaser."

Bachmann Plant Hire trades from leased premises in Ipswich and Newcastle.

It was formed in 1965 and now boasts a fleet of more than 200 machines and vehicles.

The company recorded a $2.7million end-of-year profit according to its 2018 financial year results.

Bachmann Plant Hire had four ongoing jobs including the development of housing estates in the Ripley growth corridor, according to its website.

Parties interested in the purchase of the business are required to pay a $400 fee and enter into a non-disclosure agreement.

Mr Aranautovic, Bradd Morelli and Trent Devine of Jirsch Sutherland were appointed administrators to Bachmann Plant Hire and MRS Services Group earlier this month.

MRS Services Group, based in the Upper Hunter Valley region of New South Wales, has an annual turnover of $46 million and 260 staff and contractors. That company, also up for sale as a going concern, lists Mount Arthur Coal, Bulga Coal Mangoola Coal and Thiess among its customers.



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