Download presentation - Ausenco

Download presentation - Ausenco

Ausenco expands

in North American

oil and gas market

ASX release 8 July 2013

Acquisition of PROJEX TECHNOLOGIES LTD | 8 July 2013

Expansion into Canadian oil sands market

Delivering on strategy to grow Energy business

• Acquired PROJEX Technologies – Canadian based provider of

EPCM services to North American oil sands sector

• Supports Ausenco’s strategy to expand services in North

America’s high growth oil sands market

• Acquisition complements 2012 acquisition of Reaction Consulting

with full delivery of consulting process engineering expertise and

onsite troubleshooting services

• Structured to provide full range of services across entire lifecycle

of oil sands projects

• Aligned values, systems and culture with Ausenco

• After synergies, the acquisition is expected to deliver 2014 Energy

revenues of $40 million and EBITDA of over $5 million







Acquisition of PROJEX TECHNOLOGIES LTD | 8 July 2013

Global Energy market presents

significant opportunities

• PROJEX acquisition builds on strategy

to capture a greater share of

$600 billion global energy market

• Canadian oil sands market 2015 capital

expenditure estimated at $23.4 billion

• Small to medium brownfield projects

driving growth

• Committed to ongoing strategy to grow

Energy sector earnings

Acquisition of PROJEX TECHNOLOGIES LTD | 8 July 2013

Full oil sands offering

PROJEX Technologies overview

• Full service engineering firm delivering EPCM services to oil sands and

heavy oil production and processing facilities

• Tier 1 clients include seven of the top 10 oil sands producers in Canada

• Offices in Calgary, Alberta and Halifax, Nova Scotia

• Leader in EPCM services delivery of brownfield oil sands projects

Acquisition of PROJEX TECHNOLOGIES LTD | 8 July 2013

Combined offering to deliver strategic growth

Calgary Oil and Gas Business Development Model

Thermal / Heavy Oil


Well Pad Design

Field Pipelines

Central Processing







PROJEX (Engineering, Design and Construction Support)

Strategic Growth Opportunity

Ausenco (existing Evaluate phase capabilities)

Acquisition of PROJEX TECHNOLOGIES LTD | 8 July 2013

Earnings accretive; Significant integration synergies

• Immediate earnings per share accretive

• Significant synergies with existing Ausenco Energy

business expected

• $15.2 million purchase price payable on completion

• Over $2 million in cost synergies expected into 2014

• Over 220 people focused in delivery across all phases of

the oil sands project lifecycle

• Key management personnel committed to remain with


• Funded from available cash and debt facilities

• Subject to conditions precedent expected to be completed

in late July 2013

• Fully integrated with Ausenco systems by October 2013

Acquisition of PROJEX TECHNOLOGIES LTD | 8 July 2013

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