Jun 4, 2013 1 min read

Australia’s Forge Group has acquired Southpointe-based Taggart Global, a provider of asset management, engineering procurement and construction services for the minerals processing and materials handling sectors.

Perth-based Forge, which made the announcement late Monday, told The West Australian that Taggart, which employs 600 people in the U.S., South Africa and China, has some of the world’s leading blue chip and utility companies and customers with long-term contracts and relationships spanning many years.

Forge, a leading engineering and construction firm, which is paying $43 million (U.S.) for the company, said Taggart has an order book of $465 million.

Forge managing director David Simpson said the acquisition is complementary to the company’s existing operations.

“With more than 70 percent of Taggart’s revenue coming from the U.S., Forge Group is very well placed to benefit from the recovering U.S. economy,” he said, adding that Forge sees significant growth prospects in the U.S. market, including the coal, clean coal technology and power utilities sectors.