Broadspectrum

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Broadspectrum
IndustryInfrastructure maintenance services
Founded2001
FounderFranco Belgiorno-Nettis
Headquarters,
Australia
Area served
Australia
New Zealand
ParentVentia
SubsidiariesAPP
Broadspectrum Property
CI Australia
Easternwell
ICD
Ten Rivers
Websitewww.broadspectrum.com

Broadspectrum, formerly known as Transfield Services, is an Australian company operating that provides infrastructure maintenance services. Formerly listed on the Australian Securities Exchange, and later owned by Ferrovial, it is now a subsidiary of Ventia.

Overview[edit]

Broadspectrum operates across diverse industries, including property and facilities management, defence, transport (including road, rail and public transport), utilities (including water, power, and telecommunications), and mining and chemical processing and hydrocarbons. Its clients include major national and international companies, as well as all levels of government.

History[edit]

Former Transfield Services logo

In May 2001, Transfield Holdings spun-off its maintenance contracting division along with power, transportation and water assets and listed it on the Australian Securities Exchange as Transfield Services.[1][2] Transfield Holdings had an initial 45% shareholding.[3]

In July 2004, Transfield Services acquired the New Zealand operations of Serco.[4][5] In February 2005, Transfield Services purchased instrumentation, electrical and mechanical service group Broadspectrum.[6] In June 2007, Transfield Services Infrastructure Fund (that later became RATCH-Australia) was spun-off, comprising seven former Transfield Services power station and water storage assets.[7]

In December 2010, well-servicing business Easternwell was purchased. Easternwell provides services to the mining, oil and gas and infrastructure sectors in Queensland, South Australia and Western Australia.[8][9][10] In July 2011 Transfield Services sold its North American based facilities management business USM to Emcor for US$255 million,[11] and also announced the sell down of 80 percent of its share in the Transfield Services Infrastructure Fund to Ratchaburi Australia, a subsidiary of Thai company Ratchaburi Electricity General.[12][13]

In September 2014, Transfield Holdings sold its remaining shareholding in Transfield Services, marking the end of its involvement.[14] In November 2015 Transfield Services was rebranded as Broadspectrum after Transfield Holdings gave 12 months notice of termination of the right to use the name Transfield and logo.[15]

Having made an unsuccessful takeover attempt in 2014, in May 2016 Ferrovial acquired the business.[16][17][18][19] In December 2019, Ferrovial agreed terms to sell the business to Ventia.[20] The transaction was completed in April 2020 after being cleared by the Australian Competition & Consumer Commission.[21]

Transport operations[edit]

Between 1999 and 2010, Transield Services held a 50% shareholding with Transdev in Transdev TSL that operated bus services in Sydney (Shorelink), ferry services in Brisbane (TransdevTSL Brisbane Ferries) and tram services in Melbourne (Yarra Trams).[22] Transfield Services again partnered with Transdev to operate Harbour City Ferries from 2012 until 2016.[23] From 2011 until 2018, Transfield Services also operated bus services in its own right under contract to the Department of Planning, Transport & Infrastructure in Adelaide (Light-City Buses).[24][25]

References[edit]

  1. ^ Transfield seeking $10m from Seven Hills auction Sydney Morning Herald 17 February 2001
  2. ^ Commencement of Official Quotation - Transfield Services Limited Australian Securities Exchange 30 April 2001
  3. ^ Distribution of Shareholders as at 9/05/2001 Transfield Services 9 May 2001
  4. ^ Transfield Services sale contract to acquire Serco Group NZ Ltd Transfield Services 5 April 2004
  5. ^ Transfield Services acquires Serco Group NZ Ltd Transfield Services 1 July 2004
  6. ^ Transfield Services buys specialist service group Transfield Services 10 February 2005
  7. ^ Transfield Services announces IPO of infrastructure assets Transfield Services 4 April 2007
  8. ^ Transfield Services to acquire Easternwell for $575 million Transfield Services 13 December 2010
  9. ^ Lee, Tracy (26 February 2011). "Easternwell addition drives Transfield Services rally". The Australian. Retrieved 25 August 2011.
  10. ^ "Transfield snaps up Easternwell for $575m". The Sydney Morning Herald. 13 December 2010. Retrieved 25 August 2011.
  11. ^ Lee, Tracy (20 May 2011). "Transfield offloads weak US service arm". The Australian. Retrieved 25 August 2011.
  12. ^ Kelly, Ross (2 May 2011). "Transfield Services Infrastructure Fund backs offer from Thailand's Ratchaburi". The Australian. Retrieved 25 August 2011.
  13. ^ Robins, Brian; Ker, Peter (18 August 2011). "Transfield's $12.2m Loy Yang hit over carbon tax". The Age. Retrieved 25 August 2011.
  14. ^ Transfield Holdings sells it shares in Transfield Services Transfield Holdings 9 September 2014
  15. ^ Change of name to Broadspectrum Broadspectrum 3 November 2015
  16. ^ Transfield Services receives proposal from Ferrovial Transfield Services 24 October 2014
  17. ^ Ferrovial submits final offer for Broadspectrum Ferrovial 6 April 2016
  18. ^ Ferrovial exceeds 90% of Broadspectrum Ferrovial 23 May 2016
  19. ^ Ferrovial completes compulsory acquisition of Broadspectrum shares Ferrovial 27 June 2016
  20. ^ Ventia signs agreement to purchase Broadspectrum CIMIC Group 2 December 2019
  21. ^ Ventia's proposed acquisition of Broadspectrum not opposed Australian Competition & Consumer Commission 23 April 2020
  22. ^ Welcome to TransdeTSL TransdevTSL
  23. ^ Ferries' French Flavour Australasian Bus & Coach 4 May 2012
  24. ^ New contractors for Adelaide bus services Department of Planning, Transport & Infrastructure 29 April 2011
  25. ^ "Light City Buses Gone". Australian Bus Panorama, issue 34/1, July 2018, page 5