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DRA acquires Forge Group Inc. (formerly known as Taggart Global)

KordaMentha is pleased to announce the sale of Forge Group Inc. (‘Forge Inc’), the North American subsidiary of Forge Group Ltd (Receivers and Managers Appointed) (In Liquidation), to the DRA Group (‘DRA’), a leading South African engineering group.

Insights DRA acquires Forge Group Inc. (formerly known as Taggart Global)
Tuesday, 19 August 2014
Forge Inc, formerly known as Taggart Global, is a recognised EPC firm providing design, engineering, construction, operation and facility management of minerals processing and handling facilities for mining companies and power utilities. The company has more than 300 personnel and operations in the US and China.
 
KordaMentha receivers Mark Mentha and Scott Langdon confirmed a sale has been completed with DRA. The price was not disclosed.
 
Scott Langdon commented: ‘KordaMentha and 333 Capital conducted a thorough global sale process and we are pleased with the result for the company, its employees and the creditors of the Forge Group.’
 
The company’s operations in the US will be conducted under the new name ‘DRA Taggart’. The existing management group will remain with the company and operations will continue to be managed through the company’s headquarters in Pittsburgh, Pennsylvania.
 
Mark Mentha and Scott Langdon of KordaMentha Restructuring were appointed Receivers and Managers of the Forge Group, the ASX-listed engineering, procurement and construction company, on 11 February 2014. The announced sale does not include the Forge Group Australian operations.
 

Media inquiries:

Michael Smith – +61 39440 9387 or +61 411 055 306