American Consortium Buys Ausenco from RCF

Ausenco has constructed four major copper concentrators, including Carrapateena (above) in Australia.
(Photo: Oz Minerals)
Eldridge, Brightstar Capital Partners, and Claure Group have signed a definitive agreement to acquire a majority stake of Ausenco from Resource Capital Funds (RCF) and other co-investors for A$900 million ($578 million). Brisbane-based Ausenco is a leading engineering and consulting services provider for the minerals and metals industries. RCF bought Ausenco nine years ago in a transaction valued at $A150 million ($96 million). The company’s co-founder, Zimi Meka, will remain CEO, board member and investor in Ausenco. Mike Burke, former chairman and CEO of AECOM, another major engineering firm, served as an advisor and partner to the buying consortium, and is expected to join Ausenco’s board as chairman.

“We’ve always been about challenging what’s possible and delivering services sustainably and with integrity,” Meka said. “From permitting to closure, our people are finding better ways to plan projects, efficiently use resources, protect the environment, and deliver value to clients and communities. In Eldridge, Brightstar, and Claure Group we have partners that understand this ambition and our culture.”

Under RCF’s ownership, Ausenco has constructed four major copper concentrators. These include Carrapateena, representing one of the largest copper reserves in Australia, Constancia and Mina Justa in Peru, and Mantoverde in Chile, still under construction, for a combined annual copper capacity of more than 400,000 metric tons. In addition to copper, Ausenco has grown capabilities in sustainability, lithium and operational performance. Originally founded in 1991, Ausenco now has more than 3,000 employees.

The transaction is expected to close in late 2023, subject to satisfaction of customary closing conditions.

As featured in Womp 2023 Vol 10 -