Global engineering, project delivery and operations management group DRA has entered into a merger agreement with SENET, a leading African project management and engineering firm, to create one of the largest project delivery and operations management companies on the continent.
SENET specialises in mineral processing project delivery and has successfully delivered gold, copper, cobalt, uranium and iron ore projects throughout Africa.
The merger in Africa continues DRA’s international growth and significantly strengthens its service offering across mining, project delivery (EPC and EPCM) and process plant operations and maintenance.
The merger transaction remains subject to customary closing conditions and applicable regulatory approvals, and is expected to complete towards the end of Q1-2019.
The combined DRA and SENET will have in excess of 3 000 employees in Africa, making the combined business one of the largest project delivery and operations management businesses on the continent, further enhancing the group’s ability to effectively compete on the global stage.
Wray Carvelas, CEO of DRA Global, commented: “The merger of DRA and SENET in Africa is a logical fit that will bring together two exceptionally successful companies, with complementary skill sets. The merger will bolster the offering to clients in the African projects market and across our global geographies.
“It is our intention to enhance our delivery to clients through this merger and, as such, current and future projects will benefit from the strength SENET brings to the Group. We envisage that the companies will retain brand autonomy and operational independence, while leveraging value enhancing capabilities.
“Although our team of professionals continues to grow, our purpose remains the same – to create tangible value for clients through excellence in project delivery, asset optimisation and operations management.”
SENET’s MD, Darren Naylor, added “The merger of our two companies just makes good business sense, and we are excited by the prospects and many benefits for the industry at large.
“The similar corporate cultures, synergies and the potential to create an engineering group that can offer bespoke client solutions on a global scale, yet still specifically target clients with assets in Africa, will undoubtedly present a formidable option for mining clients of all sizes.”