Veris Acquires Premium Surveying Business LANDdata
Veris has agreed to acquire LANDdata Surveys, a leading surveying consultancy with operations in ACT and NSW, for cash and performance payments of up to $4.8 million.
LANDdata, a Veris company, was established in 2006 in Canberra through the merger of two longstanding local surveying businesses. The partners of LANDdata, led by Managing Partner David Sloan, have over 20 years’ experience in the ACT. In 2015, LANDdata expanded through the acquisition of a surveying consultancy in Western Sydney.
LANDdata has delivered a range of flagship commercial, residential, land development and government infrastructure projects in the ACT and is considered the largest and most technically advanced surveying consultancy in the market. LANDdata has approximately 40 employees, annual revenue of approximately $5.5 million and EBITDA margins averaging 25%.
The acquisition of LANDdata will immediately complement Veris’ national surveying business, provide a new market entry into the ACT and a platform to originate national government infrastructure projects from Canberra.
Commenting on the acquisition, Veris Managing Director Adam Lamond said:
“The acquisition of LANDdata is an important step in the progression of our national surveying strategy and strategic plan to develop a strong presence on the East Coast. As the leading surveying consultancy in the ACT, LANDdata provides Veris with a strong local presence and opportunity to generate national infrastructure work from government agencies in Canberra. In addition, LANDdata’s presence in Western Sydney will enhance Veris’ exposure to this growth market, which is benefiting from strong property demand and recently announced government spending on large public infrastructure projects such as the Melbourne-Brisbane rail project and the new Sydney airport at Badgerys Creek.
I am very pleased to welcome the partners and employees of LANDdata to Veris and look forward to supporting them to achieve their growth plans and strong and ongoing commitment to the ACT market.”
The acquisition of LANDdata, a Veris company, provides Veris with market entry into the ACT and an enhanced position in Western Sydney. LANDdata have a long-term track record with blue-chip and government clients and presents a stable and experienced senior management team that are joining Veris. This acquisition presents the opportunity to secure national government infrastructure work from Canberra.