Wesfarmers Industrial and Safety – acquisition of Greencap Limited (ASX: GCG)

• Greencap Limited (ASX: GCG) was an Australian risk-management and compliance consulting business, providing occupational health and safety, environmental and risk-related professional services across Australia and South-East Asia
• Miles acted as financial advisor to Greencap Limited on the acquisition of 100% of its share capital by Wesfarmers Industrial and Safety, implemented by scheme of arrangement
• The acquisition delisted Greencap and integrated it into Wesfarmers’ industrial and safety division, extending that division’s services capability

Industry Context

Large diversified industrial groups have acquired specialist risk, safety and compliance consultancies to broaden their service offering beyond product distribution and to capture recurring advisory revenues. Regulatory complexity around workplace health, safety and environmental obligations sustains structural demand for such services. Acquiring a listed specialist via scheme of arrangement provides clean 100% ownership and an orderly delisting. The deal illustrates the consolidation of fragmented Australian professional-services consultancies into larger corporate platforms.