The employee-owned Tasmanian business, Sonic Civil Investments (Sonic) has acquired the Tasmanian road and infrastructure maintenance company, Stornoway Pty Ltd.
Sonic is the owner of the Launceston based major Tasmanian civil contractor, Shaw Contracting, and the Ulverstone based quarrying, asphalt, and civil infrastructure company, The Harding's Group.
Sonic CEO, David Finnigan, said “The acquisition of Stornoway will result in the creation of one of Tasmania’s largest private employers and it is with pride that this has been achieved by a Tasmanian employee-owned company”.
Stornoway’s former owner, Tim Gardner, said “He was delighted that a deal could be done with a like-minded Tasmanian company such as Sonic. My family has seen Stornoway grow over the last 50 years and I am proud of the services we provide to Tasmanians and proud of the legacy we have created. I am delighted that we have been able to reach agreement with Sonic as there is great alignment between the culture and values that are important to me and to and to all at Stornoway. Stornoway has been in my family for over 50 years, and I was determined to ensure that the employees who have been the success of Stornoway, are going to be part of another great Tasmanian company”
Sonic CEO, David Finnigan said “We welcome Stornoway and its employees to the Sonic family. With Shaw’s and Hardings we have built a business that we are proud of, and we are proud of the role we play in civil construction in Tasmania. The fact the Stornoway will remain in Tasmanian ownership is something we are delighted about and now with a combined workforce in excess of 450 employees, our role in the growth of our State is even more critical”.