Perth-based labour hire and residential building group, The GO2 People, is seeking to raise $12 million to support its growth and expansion plans ahead of its intention to list on the Australian Securities Exchange in September.
Founded by Billy Ferreira and Paul Goldfinch – both from construction management backgrounds – the company started in 2011 initially as a labour recruitment company specialising in construction and mining.
Since then, it has established a strong foothold in the Western Australian and Queensland labour-hire markets, which contribute $36.4 million in total revenue to the company. It now has 5 offices across WA and QLD, and provides labour to a number of Australia’s best known construction and mining companies.
The company focuses heavily in the provision of labour to major infrastructure and construction projects, and have recently been involved on projects such as the Gold Coast Light Rail Link stage 2, Toowoomba Second Stage Crossing, Perth’s Elizabeth Quay and Perth Children’s Hospital to name a few.
What will The GO2 People use this funding for?
The capital raise will support the company’s plan to grow its labour-hire division, which includes expansion from Perth and Queensland into NSW, Victoria and New Zealand, and to further develop its exciting building division, which is focuses on rapid-build housing in the affordable and Over 55’s sector.
Having the building arm of the business provides GO2 with the internal expertise to better service their labour hire clients and provides an alternative revenue stream that is aligned to the skillset of the management team. It also positions GO2 to add on future revenue streams which complement the existing businesses.
The GO2 People’s proposed listing comes at a time when the board of Perth-based, Programmed, which provides a broad range of staffing, maintenance and facility management services, has backed a proposal from Japanese staffing group, Persol, to acquire the group for $778 million.
Mr Ferreira and Mr Goldfinch are excited by the prospect of becoming a public company and believe it will help the company reach its full potential.