News Archive News 2007 Story

Norfolk Group Limited (ASX: NFK), a leading Australasian provider of integrated electrical, communications, HVAC (heating ventilation and air conditioning), passive fire protection and property services, has acquired Gold Coast Air Conditioning Services (GCACS).

The acquisition brings GCACS under the management of Haden Engineering Pty Limited, a Nofrolk Group company within its Mechanical division. It represents a tripling of revenues for Haden in the Gold Coast region.

David Rafter, Chief Executive of Norfolk Group's Mechanical division, said South East Queensland is a high-growth region with the local population projected to expand by about 55,000 people a year for the next two decades. "The acquisition of GCACS allows Haden to strengthen its presence in the region and be in a position to capitalise on increased demand for services," Mr Rafter said.

"GCACS specialises in higher margin air conditioning refurbishment, maintenance and installation projects. The acquisition of GCACS will complement the maintenance and installation services already offered by Haden's Gold Coast business."

GCACS is supported by 11 employees who will join the Haden operation. It is a well established organisation with a strong track record of quality custmer service. "Customers will see no change to day-to-day operations and the superior service levels they are used to. A key benefit for Haden is access to highly qualified technicians in a tight labour market," said Mr Rafter.