Western Australian company Pilbara Rail Maintenance (PRM) has entered into a $180 million sale agreement with Salcef Group, a global player in the maintenance, renovation, construction and electrification of railway and urban transport infrastructure.
The deal is considered a gateway into Australia’s public and private rail networks – specifically the heavy haul iron ore networks in the Pilbara.
Salcef Group will retain PRM’s 300 workforce and management team, including Founding Director Chris Prior, who will assume the role of Chief Executive Officer.
“With the backing of Salcef, PRM will transform the delivery of rail maintenance in Australia, solidifying our relevance and commitment to ingenuity well into the future,” said Prior.
“Our partnership came together due to two key shared values: absolute technical excellence and a commitment to safety.
“Together we will be able to deliver bigger projects with new technologies and ways of working, that have to date, only been deployed in Europe.”
Salcef Chief Executive Officer Valeriano Salciccia said the company’s reasons for the acquisition were simple.
“PRM stands out as a first-class operator with an unrivalled safety record,” he said. “They are ‘first movers’ in rail safety and innovation.
“Their industry leadership has not only seen several industry-leading equipment innovations come to market, but genuine enhancements to the way the iron ore industry maintains heavy haul rail infrastructure in Australia.”
The sale agreement is subject to certain conditions, including Foreign Investment Review Board approval, which are expected to be satisfied in the coming weeks.
Founded in 2018, PRM delivers complex, high-volume maintenance and construction programs for major rail network operators including Rio Tinto and BHP.
Salcef Group is headquartered in Italy and has equipment production plants in Fano and Schieppe, as well as multiple plants for sleeper, slab track and tunnel segment production.
It currently counts eight operative business units and 18 operating companies, with a collective turnover of $1.54 Billion (2024) and over 2200 employees.
