Symal extends rentals with acquisition

Australian contracting, waste management and rental business Symal has acquired Queensland-based water contractor and rental company McFadyen Group for A$11 million (€6.2 million).

McFadyen installs and maintains water and stormwater systems, pipeline infrastructure, sewer mains, and pump stations. It also rents pumps and other water-related equipment.

Symal said the deal would expand its activities in water infrastructure, giving it access to opportunities with major projects and new clients across water, stormwater, wastewater and pipeline construction.

Komatsu machines in the rental fleet of Unyte. (Image: Unyte)

The deal will also expand Symal’s existing equipment rental operations with increased capacity and a specialised fleet.

McFadyen founder and managing director, Ron McFadyen, will continue to be involved in the business. The company’s head office and maintenance facilities in Yatala, Queensland, will be retained.

Symal Group managing director Joe Bartolo, said; “Ron and the McFadyen team have built a strong business with trusted client relationships, a skilled workforce and a reputation for reliable delivery.

“McFadyen was a natural fit for Symal. Their culture and values align with ours and their experienced team, strong order book and specialist fleet enhance our capabilities in resilient end markets.”

Symal operates through a number of operating companies. Its rental division, Unyte, has a fleet of more than 850 machines, including a wide range of excavators up to 125t as well as dozers and 60t dump trucks. Unyte also runs its own quarries and manages quarries for third parties.

In its most recent financial year, Symals’ plant and equipment division – which includes Unyte – reported annual revenues of A$183.6 million (€103 million), up 40.9% on the previous year. It represents 20% of the total group business.

Unyte was created in 2018 following Symal’s acquisition of Grampian Excavations, which was merged with Symal’s rental business.