Cockram welcomes strategic investment by Kajima Corporation
Image: Motohiro Umehara (Managing Director, Kajima Australia) and Malcolm Batten (Managing Director, Cockram Construction)
Cockram Construction (“Cockram”) is pleased to announce that international construction company, Kajima Corporation (“Kajima”) has made a strategic investment in Cockram.
Malcolm Batten, Managing Director, Cockram said: “Kajima has a global track record of investing in high performance businesses and retaining and working with the local management to successfully help them grow their businesses. This investment demonstrates confidence in our strategy of providing diversified construction services throughout Australia and Asia Pacific.
“Kajima’s investment provides us with the financial resources and technical expertise to enable us to grow our existing specialist market in social infrastructure in Australia. It will also ultimately allow us to expand our international business in Asia Pacific and the United States where demand is growing.”
All existing Cockram executive shareholders will remain invested in the company alongside Kajima who will become the majority shareholder.
Kajima has been in business for over 175 years with current annual revenues of approximately A$21 billion. Kajima entered the Australian construction market in 2015 with a similar strategic investment in Icon Construction Group (“Icon”), an Australian residential and commercial builder. Kajima’s investment in Cockram will ultimately lead to a merger between Cockram’s Australian business and Icon during 2019.
The merger will combine Icon’s extensive residential and commercial construction expertise with Cockram’s specialist social infrastructure business to create a compelling full spectrum construction services offering in Australia.