Lucas Engineering and Construction is up for sale according to the Australian Financial Review’s (AFR) Street Talk section.
The AFR reports that former Carlyle Managing Director Matthew Hunter is assisting parent company, AJ Lucas, with the sale of the engineering and construction division.
Sources say that the company will sold as a bolt-on purchase to a larger construction company.
The AFR says Downer EDI, CIMIC and Lendlease have thrown their hats in the ring for Lucas.
Lucas Engineering and Construction is AJ Lucas’ in-house design and construction arm, with a focus on gas and water pipelines and civil engineering.
Pipeline projects constructed by Lucas include APA Group’s 292 km Easter Goldfields Pipeline in Western Australia and loopings 6 – 9 of the Victorian Northern Interconnect Expansion, also for APA Group.
The AFR reports that the strategic review and potential sale of the engineering and construction division comes as AJ Lucas explores options to speed up the exploration and development of the shale assets in the United Kingdom.