Forge acquires procurement services provider CTEC

Engineering and construction firm Forge Group Ltd has agreed to acquire Western Australia-based procurement services provider CTEC for about $39 million.

CTEC provides procurement, engineering and construction maintenance services to the energy and utilities sectors.

"CTEC represents a good strategic fit to grow Forge Group as it opens up new markets both geographically and strategically," Forge executive chairman Peter Hutchinson said on Friday.

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