Diversified international conglomerate AvidSys Group has snapped up the remaining businesses of collapsed engineering firm RCR Tomlinson.
AvidSys, which is owned by Sanrachna Group, has purchased RCR Resources, RCR Power and RCR Water West, securing jobs for 150 staff.
The news comes after the recent sale of RCR Mining and RCR Heat Treatment to NRW Holdings Limited.
This transaction represents a strategic extension of our global strategy to provide vertically integrated end-to-end businesses as part of our wider group,” AvidSys Resources Chairman Ansh Gautam said.
“The RCR team is well regarded in WA – we respect and want to build on RCR’s 120-year history for many years to come. RCR’s specialist team will continue to deliver RCR-quality production and service. We look forward to welcoming the RCR employees into the AvidSys family.”
AvidSys is an international group of businesses operating across a wide portfolio of sectors including metals and mining, media, construction and infrastructure development and industrial automation, property and software development.
In Australia, AvidSys’ portfolio includes REMSAFE, an established industry leader in remote isolation technology, and other mining investments.
Perth-based Administrator and McGrathNicol Partner, Rob Brauer said the transaction concludes the sales process in Western Australia, with successful transactions achieved for all business units securing around 500 jobs.
“AvidSys’ investment in RCR’s assets in WA ensures the local management team led by Andy Griffin will continue to deliver for its longstanding customer base,” he said.