FIVA Group, the French engineering and manufacturing services company that has partnered with ASC to develop a submarine design workforce, has acquired local engineering support services provider Cadgile for an undisclosed sum.
Cadgile is a CAD design and drafting company based in SA with experience across sectors including defence, oil & gas and mining. It has been acquired by FIVA to fulfil the role of its design and drafting service-provider in support of the work it is doing in the delivery of the Future Submarine Program.
All staff, including Managing Director Gary McRae, will be retained under the deal.
McRae believes that the opportunities created through FIVA’s acquisition of the firm he co-founded in 2005 will lead to significant growth for the Prospect-based business as well as its team of designers and CAD practitioners.
“It is very likely that we’ll grow three or fourfold in as many years as a result of this transaction,” McRae said. “My ongoing role will be to manage the firm under its new ownership and make sure we capitalise on the doors that will open for us as a result of our relationship with FIVA Group.”
“It is a great opportunity to draw on the experience and relationships that FIVA has with leading companies like Naval Group, Navantia and many more,” McRae added. “This is a tremendously exciting development for us as a business as well as the development of our staff is concerned.”
Yannick Vergez, CEO of FIVA Group, said that Cadgile’s experience, capabilities and proven track record were the main drivers of the decision to acquire the firm.
“Cadgile will play a critical role in helping us deliver submarine design services as part of our involvement in the submarine program and we are delighted to have found a local business of such a high calibre that we can rely on to deliver a world-class service,” Vergez said.
“As a business we now own, we will also strengthen Cadgile’s capabilities in Australia through our own extensive experience in the public utilities, resources, energy and environment sectors.”