Queensland invests in safer heights future for construction
As housing construction experiences significant growth in the Sunshine State, the Queensland Government has invested in Gold Coast company Buildsafe through the $100 million QIC-managed Business Investment Fund (BIF), in partnership with Colinton Capital and Minderoo, to make the industry safer. Queensland Treasurer and Minister for Investment Cameron Dick said supporting high-growth businesses is central to the state’s COVID-19 Economic Recovery Plan, and the government will be working with Buildsafe to create more local jobs. “Queensland dwelling approvals are up more than 37% since May 2020, generating significant demand for the building height safety solutions provided by Buildsafe. With Buildsafe’s 20-year track record of innovation and development, the company are in a strong position to capitalise on Queensland’s construction boom, and our investment will ensure they do. It will allow Buildsafe to hire more than 40 new staff and increase production of their industry-trusted products,” said Minister Dick.
Buildsafe provides end-to-end height safety solutions, including fall-guards, scaffolding, walkway systems, void platforms and temporary fencing, to companies such as Metricon, Mirvac, Coral Homes and Brighton Homes. In 20 years, the company has progressed from a few staff to almost 500 employees. Touring Buildsafe’s Arundel headquarters with company co-founder and CEO Milton Young, the Minister said the government’s stake in Buildsafe was the second strategic investment made through the BIF. Minister Dick added that the Business Investment Fund increases access to growth capital for Queensland businesses, with two investments now complete in Buildsafe and Gilmour Space Technologies. “Backing Queensland businesses to innovate and grow, strengthening supply chains across the state and creating new jobs for Queenslanders is what our economic recovery plan is all about,” he said.
Buildsafe CEO Milton Young said the Queensland Government’s support will help the company secure more jobs, continue research and development, and contribute to the state’s economic recovery. Young asserted that the company strives to remain a leader of the industry, and to continue providing state-of-the-art site safety and a dedicated customer service team to grow and strengthen the construction industry. “Buildsafe is an Australian-owned, national business, spread across three states; however, we can see the growth potential that Queensland offers, which is why we have chosen to drive our head office and business here,” Young said. Colinton Capital Partner David Slocomb said Buildsafe has a consistent 20-year track record of growth, with an industry-leading focus on product innovation, safety and customer service excellence. “Co-investing alongside the founders, QIC and Minderoo, we are pleased to assist Buildsafe to accelerate their growth,” Slocomb said.
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