Administrators for collapsed engineer RCR Tomlinson have confirmed John Holland has acquired the firm’s rail business.
RCR Tomlinson’s board appointed McGrathNicol as administrators in November last year, after it was unable to secure the necessary financial backing to continue operations.
The AFR reported late in December the company’s RCR O’Donnell Griffin Rail business had been sold to John Holland.
On January 7, McGrathNicol confirmed the sale.
“The sale preserves the jobs of around 400 Australian employees within RCR O’Donnell Griffin Rail who will transfer to John Holland, and preserves the entitlements of those staff,” McGrathNicol partner Jason Preston said.
“RCR’s Rail business has an outstanding track record, with highly-skilled staff and a blue-chip client base that made it an attractive target for prospective acquirers and a strategic fit for John Holland.”
McGrathNicol’s Jason Ireland added: “The RCR Rail business is an excellent business and we are pleased to have found a buyer with the capacity to take advantage of its capabilities and expertise.”
As recently as October, RCR Tomlinson was selected for a major contract to deliver underground rail infrastructure for Auckland’s City Rail Link, in a joint venture with Opus International Consultants.
The parties are in the process of negotiating with the NZ Government, Auckland Transport and KiwiRail on a final deal for the work, due in March 2019.
In January, RCR was selected to deliver $70 million in upgrades to the Melbourne Underground Rail Loop.
RCR was also part of the Novo Rail Alliance which delivered the recent Wynyard Station upgrade.