“This transaction recognises the value created through that growth.”
Dunn said the deal marked the beginning of Infrawork’s next phase of growth and was exciting news for its team and customers.
Day-to-day operations for Infrawork’s team will continue unchanged, with Dunn set to continue leading as chief executive.
“While day-to-day operations remain unchanged, PeopleIN’s capital, capability and scale will help us execute faster, strengthen the business and deliver more for customers over time, including through a stronger transtasman network.”
PeopleIN chief executive Tom Reardon said the expansion enhanced the company’s footprint as the largest employer of Pacific workers in Australia.
“With Infrawork’s proven history of staff mobilisation since 2011 from Asia Pacific, and PeopleIN’s successful Palm initiative in Australia, we are positioned to leverage the transtasman agreement for cross-border operations and utilising the skilled workers into each geography.”
The transaction was led by AK Christie & Co, with advisory services provided by Russell McVeagh and BDO.
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.