NRW acquires BGC Contracting
MINING services company NRW has acquired 100pc of BGC Contracting for an equity value of $116.4m and implied enterprise value (EV) of $310m. Essentially, the implied EV is an alternative measure of a company’s value and covers BGC’s market cap including short and long-term debt as well as any cash on the balance sheet. NRW’s chief executive and managing director Jules Pemberton said the company is extremely pleased with the acquisition as it aligns with goals to pursue diverse revenue opportunities. “BGC Contracting has a well-recognised and proud history build around the strong foundations set by the late Len Buckeridge,” Mr Pemberton said. “With an excellent track record supported by a diversified earnings base, extensive fleet and a long history…