The New York-based parent company of Multiplex is selling the Australian construction business to one of Japan’s five largest construction companies.
Founded by John C Roberts in 1962 as a small business in Perth, Multiplex now has operations in Australia, Canada and the UK. In 2007, it was acquired by the USA’s Brookfield Business Corporation and is now being sold for US$650 million to Obayashi Corporation, headquartered in Tokyo.
Multiplex’s global portfolio includes complex developments across the residential, commercial, residential, infrastructure, health, hospitality, and mixed-use sectors. John Flecker, the company’s global CEO, is optimistic about the sale and described it as a milestone.
“There is a clear alignment of values and aspirations between Multiplex and Obayashi, a firm established more than 130 years ago [1892], and we see significant opportunity ahead,” Mr Flecker said.
“Obayashi brings significant engineering expertise and global capability, viewing Multiplex as the perfect fit for its long-term global growth strategy.
“The acquisition strengthens Multiplex’s platform by providing access to global markets, technical knowledge and expanded opportunities for its people and partners.”
Mr Flecker said Multiplex will continue to operate independently and that its projects and brand will not change, nor will its leadership team. Toshimo Sato, CEO of Obayashi Corporation is confident the partnership will enable Multiplex to accelerate its growth and gain strength in its core markets.
Image credit: Multiplex
About the author
Desi Corbett
Desi is the Editor of Concrete in Australia, at the helm since December 2013, and our weekly news writer since 2016. Her expertise in this field forms part of a journalism career spanning three decades. To get in touch please email desi@corbettcomms.com