It’s Official: Australian Construction Companies Icon Co and Cockram Merge as One
Australian residential and commercial builder Icon Co and social infrastructure specialists Cockram have merged into a single entity as of January 2019.
The merger follows on from a major investment into Cockram by Japanese construction giant Kajima in 2017. The merger of Icon Co and Cockram into a single entity aims to provide a full service construction business, with complete construction capabilities across all sectors.
Kajima’s strategic investment into Cockram early last year saw the Japanese company become Cockram’s major stakeholder. Kajima bought out Icon Co in a similar move in 2015.
In a statement to the media, Cockram Managing Director Malcolm Batten said that the merger would also enable the new joint entity to grow by servicing the wider Asia Pacific region and America.
“Kajima has a global track record of investing in high performance businesses and retaining and working with the local management to successfully help them grow their businesses,” said Mr. Batten.
“Kajima’s investment provides us with the financial resources and technical expertise to enable us to grow our existing specialist market in social infrastructure in Australia. It will also ultimately allow us to expand our international business in Asia Pacific and the United States where demand is growing.”
The $12 billion Japanese juggernaut is one of the largest construction companies worldwide, with over 170 years of experience, an annual revenue of $20 billion, and nearly 17,000 workers across the globe.
Cockram have a 157 year history as contractors in Australia, providing services across design and build, general contracting, construction management and engineering, procurement and construction management (EPCM). Icon Co formed in Australia in the late 80s as family-run residential and commercial builder, and in 2001 expanded their services to include remedial maintenance.
Cockram’s 4200 employees will join Icon Co’s 1000 employees to form a powerhouse, projected to drive future growth of the Australian economy.
Mr. Batten described the merger as an assurance of future growth, not just for the two Australian companies but for economies at home and abroad.
“This investment demonstrates confidence in our strategy of providing diversified construction services throughout Australia and Asia Pacific.”
The new joint entity is currently involved in 50 projects both at home and overseas, with a combined turnover of $1.4 billion.
In support of the new partnership, the combined Icon Co and Cockram entity has adopted parent company Kajima’s ethos of ‘putting the construction site first,’ adopting the approach of bringing life to buildings and structures and making them valuable to their users.
Header image credit: Icon Co
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