Anchorage successfully acquired Contract Resources, aiming to leverage the company's strong market position and implement operational enhancements, resulting in significant financial improvements.

Information on the Target

Contract Resources (CR), founded in 1989, is a preeminent provider of essential maintenance services across the oil, gas, energy, and infrastructure sectors in Australia, New Zealand, and the Middle East. The firm specializes in a variety of services, including catalyst handling, environmental and industrial solutions, and mercury waste treatment. CR serves key industries, such as refinery operations, LNG production, petrochemicals, renewable energy, and broader resource sectors.

Under the ownership of Hellaby Holdings, CR was considered a non-core and underperforming subsidiary. However, with the increased demand in the industry—particularly for LNG production—CR's robust market presence caught the interest of Anchorage, which recognized an opportunity to drive sustainable earnings growth through a series of operational enhancements.

Industry Overview

The oil and gas industry in Australia has been experiencing significant developments, driven largely by the expansion of LNG production. The demand for natural gas, both domestically and internationally, has prompt