Qube Holdings snaps up LCR Group for $135 million

Qube Holdings has announced the acquisition of LCR Group for $135 million.
LCR is a specialist provider of outsourced industrial logistics services, operating across mining, heavy transport, mobile crane and renewable energy industries including Oil and Gas.
“The acquisition of LCR is significant as it provides Qube the ability to deliver enhanced broad spectrum mining and industrial services to its existing and future customers. LCR is well known for providing innovative lift and shift materials handling solutions across Australia and PNG,” Paul Digney, Chief Operating Officer, Qube Holdings said.
Qube is Australia’s largest integrated provider of import and export logistics services. The acquisition provides Qube additional geographical diversity and service capability to enhance the company’s ability to provide reliable integrated logistics solutions.
According to Qube, both organisations are aligned in their business models which are driven by a strong safety culture, a solid and stable team, and a strong ethos to work with our local communities rather than simply in them.
“This alignment will continue under the support umbrella of Qube which will drive our collective goal to increase our presence and customer focus both in Australia and internationally. I am very excited for the staff and customers of LCR; Qube offers a great opportunity for all parties to be part of a growing national logistics business,” Col Partington, CEO and Managing Director, CEO said.
“Qube is committed to developing strong business units that deliver value for our customer base. I am delighted to welcome all LCR staff and management to Qube and l look forward to seeing the expanded service offering benefiting the combined customer base,” Paul Digney said.
In an announcement, Qube stated that there are no immediate changes forecast for the business, the initial focus of the combined business will be to work with the management team to ensure the same high level of service continues and the new opportunities identified are delivered upon.