Eldridge, Brightstar, Claure Group win agreement to buy Ausenco
BRISBANE-Headquartered Ausenco, a global integrated engineering and consulting services provider to the minerals and metals industries – and increasingly the energy transition market – has confirmed a ‘definitive agreement’ to sell a majority stake to bidders Eldridge, Brightstar Capital Partners, and Claure Group.
Ausenco’s co-founder, Zimi Meka, will remain CEO, board member and investor. Mike Burke, the former chairman and CEO of AECOM, served as an advisor and partner to Eldridge and the buyer consortium and he is expected to join Ausenco’s board of directors as chairman.
The consortium has bought a majority stake in Ausenco from Resource Capital Fund VI L.P. and other co-investors.
Founded in 1991, Ausenco’s 3,000 employees are focused on the world’s most challenging engineering and consulting projects, drawing on deep technical expertise with a commitment to sustainably delivering end-to-end solutions for its clients and their communities.
Ausenco’s team of scientists, engineers and professionals design and build efficient mine and metal extraction facilities; deliver sustainable mine waste and water management, and mine closure and remediation solutions; and engage with local and Indigenous communities to create lasting benefit.
“We’ve always been about challenging what’s possible and delivering services sustainably and with integrity,” Mr Meka said. “From permitting to closure, our people are finding better ways to plan projects, efficiently use resources, protect the environment, and deliver value to clients and communities. In Eldridge, Brightstar, and Claure Group we have partners that understand this ambition and our culture.”
Eldridge co-founders Todd Boehly, Tony Minella and Duncan Bagshaw made a joint statement: “We invest in what people need and what people want – both qualities expressed in Ausenco’s activity the past three decades.
“Ausenco has worked around the world to deliver minerals critical to nearly every aspect of our lives and to the ongoing energy transition. We are excited to partner with a world-class management team to further enhance and diversify their service offerings.”
Brightstar Capital Partners founder and CEO, Andrew Weinberg said, “Ausenco plays a vital role in facilitating the global transition to electrification and electric vehicles. Brightstar is confident that Ausenco is strategically positioned for future growth due to its impressive track record of performance, and the anticipated increased demand for metals and minerals that are essential to sustainable solutions.”
Claure Group founder and CEO, Marcelo Claure, who will join Ausenco’s board, said, “With the shift to more sustainable energy gaining momentum, Latin America will have a key role to play as the main producing region for essential minerals, such as copper and lithium.
“Given Ausenco’s strong presence and pipeline of projects in the region, we believe the company will be at the forefront of this transition, actively contributing to the electrification of the world.”
Claure Group is a multi-billion-dollar global investment firm spanning multiple high growth sectors including tech, telecom, media, real estate, essential minerals, and sports, led by Marcelo Claure. Notable investments include T-Mobile, where Claure is the largest individual shareholder; SHEIN, the global number one on-demand fashion company; Bicycle Capital, a Latin America focused growth equity fund; and Brightstar Capital Partners, a leading US middle market private equity firm.
Perella Weinberg Partners is acting as exclusive financial advisor to Ausenco in connection with the transaction.