)
Gold Coast-based civil construction and mining services company SEE Group has secured a $67 million investment from Ellerston Capital’s Industrial Growth Platform to expand its reach and provide capacity to take on larger and more complex projects.
The deal will give Ellerston Capital a minority interest in the company, which currently has operations in Queensland and NSW.
SEE Group says the investment, which aims to give the company the firepower to venture into new markets, will provide capital to expand its heavy plant and fleet while strengthening its mining and civil infrastructure capability.
The capital injection follows SEE’s acquisition of Sunshine Coast-based Hall Civil earlier this year, which is expected to help the group boost revenue to more than $800 million in FY26.
SEE, which currently employs more than 800 people, has indicated it could pursue other acquisitions to expand its national footprint.
SEE Group CEO Joel Barnes says the Ellerston investment is a significant milestone for the company and an endorsement of its people, culture and performance.
“Ellerston is one of Australia’s leading investors, and this partnership represents a strong vote of confidence in our strategy, whilst allowing us to continue to operate as an independent, family-built business,” says Barnes.
“The investment will support our targeted growth, particularly our expansion into mining through SEE Mining and our heavy fleet capability through SEE Fleet, positioning us to take on even more substantial projects in the years ahead.
“The partnership with Ellerston allows us to continue building a business that combines regional capability with national scale.
“With additional fleet capacity, new project opportunities and a continued focus on innovation and sustainability, we’re well positioned to take SEE Group into its next chapter of growth.”
SEE Group, which was established in 1988, is among Australia’s biggest civil construction and mining services providers.
The family-founded group comprises SEE Civil, SEE Mining, SEE Fleet and SEE Quarry, which deliver major infrastructure, urban development and mining projects for government and private-sector clients.
Following the investment, Ellerston Capital investment partner Mark Paton will join the board as a non-executive director.
The existing board and management team will remain unchanged, after SEE co-founder Steve Turner earlier this year transitioned from managing director to executive chairman.
“SEE Group is a high-quality business with an exceptional management team, a clear strategy and a significant portion of forward revenue already secured,” says Paton.
“Its vertically integrated model provides a genuine competitive advantage in delivering large-scale infrastructure and mining projects efficiently and cost-effectively.
"This investment aligns strongly with our Industrial Growth Platform’s mandate to back leading Australian businesses in the industrial and infrastructure sectors.
“We’re excited to partner with Joel and the team to support their next phase of growth, as SEE Group strengthens its market position and expands its capability.”
)
