Broadspectrum
{{short description|Australian infrastructure maintenance services company}}
{{Use dmy dates|date=November 2019}}
{{about|the company formerly known as Transfield Services|the investment company and former parent company of Transfield Services|Transfield Holdings}}
{{Infobox company
| name = Broadspectrum
| logo = Broadspectrum logo.png
| former_name =
| type =
| genre =
| fate = Acquired by and integrated into Ventia
| predecessor =
| successor = Ventia
| foundation = 2001
| founder = Franco Belgiorno-Nettis
| defunct = {{End date|2020|06|30}}
| location_city = North Sydney
| location_country = Australia
| location =
| locations =
| area_served = Australia
New Zealand
| key_people =
| industry = Infrastructure maintenance services
| products =
| production =
| services =
| revenue =
| operating_income =
| net_income =
| aum =
| assets =
| equity =
| num_employees =
| parent = Ventia
| divisions =
| subsid = APP
Broadspectrum Property
CI Australia
Easternwell
ICD
Ten Rivers
| homepage = [http://www.broadspectrum.com/ www.broadspectrum.com]
}}
Broadspectrum, formerly known as Transfield Services, was an Australian and New Zealand company that provided infrastructure maintenance services. Formerly listed on the Australian Securities Exchange, and later owned by Ferrovial, it was then acquired by Ventia who integrated Broadspectrum alongside Visionstream.{{Cite web|title=Broadspectrum is now part of Ventia|url=https://www.ventia.com/broadspectrum|access-date=2021-09-03|website=www.ventia.com}}
Overview
Broadspectrum operated across diverse industries, including property and facilities management, defence, transport (including road, rail and public transport), utilities (including water, power, and telecommunications), and mining and chemical processing and hydrocarbons. Its clients included major national and international companies, as well as all levels of government.
History
File:Transfield-Services-Logo.gif
In May 2001, Transfield Holdings spun-off its maintenance contracting division along with power, transportation and water assets and listed it on the Australian Securities Exchange as Transfield Services.Transfield seeking $10m from Seven Hills auction Sydney Morning Herald 17 February 2001[https://web.archive.org/web/20200426231731/https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=4667&announcementId=256948 Commencement of Official Quotation - Transfield Services Limited] Australian Securities Exchange 30 April 2001 Transfield Holdings had an initial 45% shareholding.[https://web.archive.org/web/20200427064351/https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=4667&announcementId=400125&documentDate=2001-05-15&documentNumber=235118 Distribution of Shareholders as at 9/05/2001] Transfield Services 9 May 2001
In July 2004, Transfield Services acquired the New Zealand operations of Serco.[https://web.archive.org/web/20200427071633/https://www.asx.com.au/asxpdf/20040405/pdf/3l5qc4185sg6q.pdf Transfield Services sale contract to acquire Serco Group NZ Ltd] Transfield Services 5 April 2004[https://web.archive.org/web/20200427072002/https://www.asx.com.au/asxpdf/20040701/pdf/3m0hdvcft3b0b.pdf Transfield Services acquires Serco Group NZ Ltd] Transfield Services 1 July 2004 In February 2005, Transfield Services purchased instrumentation, electrical and mechanical service group Broadspectrum.[https://web.archive.org/web/20200427072508/https://www.asx.com.au/asxpdf/20050210/pdf/3pp345cn4v0kx.pdf Transfield Services buys specialist service group] Transfield Services 10 February 2005 In June 2007, Transfield Services Infrastructure Fund (that later became RATCH-Australia) was spun-off, comprising seven former Transfield Services power station and water storage assets.[https://web.archive.org/web/20200426232749/https://www.asx.com.au/asxpdf/20070404/pdf/311snhqhhnjwfp.pdf Transfield Services announces IPO of infrastructure assets] Transfield Services 4 April 2007
In December 2010, well-servicing business Easternwell was purchased. Easternwell provides services to the mining, oil and gas and infrastructure sectors in Queensland, South Australia and Western Australia.[https://web.archive.org/web/20200426235356/https://www.asx.com.au/asxpdf/20101213/pdf/31vk27cphkq4bd.pdf Transfield Services to acquire Easternwell for $575 million] Transfield Services 13 December 2010{{cite news |url=http://www.theaustralian.com.au/business/easternwell-addition-drives-transfield-services-rally/story-e6frg8zx-1226012240292 |title=Easternwell addition drives Transfield Services rally |author=Lee, Tracy |work=The Australian|date=26 February 2011 |access-date=25 August 2011 }}{{cite news |title=Transfield snaps up Easternwell for $575m |url=http://www.smh.com.au/business/transfield-snaps-up-easternwell-for-575m-20101213-18ufw.html |work=The Sydney Morning Herald |date=13 December 2010 |access-date=25 August 2011}} In July 2011 Transfield Services sold its North American based facilities management business USM to Emcor for US$255 million,{{cite news |url=http://www.theaustralian.com.au/business/transfield-offloads-weak-us-service-arm/story-e6frg8zx-1226059261198 |title=Transfield offloads weak US service arm |work=The Australian |author=Lee, Tracy |date=20 May 2011 |access-date=25 August 2011 }} and also announced the sell down of 80 percent of its share in the Transfield Services Infrastructure Fund to Ratchaburi Australia, a subsidiary of Thai company Ratchaburi Electricity General.{{cite news |url=http://www.theaustralian.com.au/business-old/city-beat/transfield-services-infrastructure-fund-backs-offer-from-thailands-ratchaburi/story-fn4xq4cj-1226048260616 |title=Transfield Services Infrastructure Fund backs offer from Thailand's Ratchaburi |work=The Australian |author=Kelly, Ross |date=2 May 2011 |access-date=25 August 2011 }}{{cite news |url=http://www.theage.com.au/business/transfields-122m-loy-yang-hit-over-carbon-tax-20110817-1iy5o.html |title=Transfield's $12.2m Loy Yang hit over carbon tax |author1=Robins, Brian |author2=Ker, Peter |work=The Age |date=18 August 2011 |access-date=25 August 2011 }}
In October 2012, Transfield Services was contracted to manage the Australian government's offshore immigration detention centre on Nauru.{{Cite web |date=2015-10-27 |title=Transfield given $1.5bn over three years to manage Nauru and Manus centres |url=http://www.theguardian.com/australia-news/2015/oct/27/transfield-given-15bn-over-three-years-to-manage-nauru-and-manus-centres |access-date=2022-04-12 |website=the Guardian |language=en}} In March 2014, following the death of Iranian asylum seeker Reza Barati, it took over the running of the detention centre on Manus Island from G4S.{{Cite web |date=2015-08-31 |title=Transfield named Coalition's 'preferred tenderer' for Manus and Nauru centres |url=http://www.theguardian.com/world/2015/aug/31/transfield-named-coalitions-preferred-tenderer-for-manus-and-nauru-centres |access-date=2022-04-12 |website=the Guardian |language=en}} A group of artists participating in the Sydney Biennale that year threatened a boycott of the festival (whose chairman was Luca Belgiorno-Nettis, managing director of Transfield Holdings) unless the festival ended a sponsorship deal with Transfield. Belgiorno-Nettis resigned his chairmanship of the Biennale.{{Cite web |date=2014-03-07 |title=Biennale artists force Transfield out |url=https://www.afr.com/life-and-luxury/arts-and-culture/biennale-artists-force-transfield-out-20140307-ixmly |access-date=2022-04-12 |website=Australian Financial Review |language=en}}
In September 2014, ahead of a review established by immigration minister Scott Morrison, Transfield Holdings sold its remaining shareholding in Transfield Services, marking the end of its involvement.[https://web.archive.org/web/20141025203519/http://www.transfield.com.au/news Transfield Holdings sells it shares in Transfield Services] Transfield Holdings 9 September 2014{{Cite web |date=2015-03-20 |title=Save the Children staff say Moss review exposes negligence on Nauru |url=http://www.theguardian.com/australia-news/2015/mar/20/save-children-moss-review-negligence-asylum-seekers-nauru |access-date=2022-04-12 |website=the Guardian |language=en}}{{Cite web |title=Independent Reviews - Regional Processing Centre in Nauru |url=https://www.homeaffairs.gov.au/reports-and-publications/reviews-and-inquiries/departmental-reviews/independent-reviews-regional-processing-centre-nauru |access-date=2022-04-12 |website=www.homeaffairs.gov.au}} In November 2015 Transfield Services was rebranded as Broadspectrum after Transfield Holdings gave 12 months notice of termination of the right to use the name Transfield and logo.[https://web.archive.org/web/20200427004911/https://www.asx.com.au/asxpdf/20151103/pdf/432q9byq17rnfm.pdf Change of name to Broadspectrum] Broadspectrum 3 November 2015
Having made an unsuccessful takeover attempt in 2014, in May 2016 Ferrovial acquired the business.[https://web.archive.org/web/20141129022636/http://www.transfieldservices.com/news/transfield-services-receives-proposal-from-ferrovial Transfield Services receives proposal from Ferrovial] Transfield Services 24 October 2014[https://web.archive.org/web/20160504152808/http://www.ferrovial.com/en/press-room/press_releases/final-offer-broadspectrum/ Ferrovial submits final offer for Broadspectrum] Ferrovial 6 April 2016[https://web.archive.org/web/20160818090623/http://www.ferrovial.com/en/press-room/press_releases/exceeds-90-pc-broadspectrum/ Ferrovial exceeds 90% of Broadspectrum] Ferrovial 23 May 2016[https://web.archive.org/web/20200427000657/https://www.asx.com.au/asxpdf/20160627/pdf/4384yb3nmwpv13.pdf Ferrovial completes compulsory acquisition of Broadspectrum shares] Ferrovial 27 June 2016 In December 2019, Ferrovial agreed terms to sell the business to Ventia.[https://web.archive.org/web/20200426230810/https://www.asx.com.au/asxpdf/20191223/pdf/44cvj99tw06jyc.pdf Ventia signs agreement to purchase Broadspectrum] CIMIC Group 2 December 2019 The transaction was completed in June 2020 after being cleared by the Australian Competition & Consumer Commission.[https://web.archive.org/web/20200426231047/https://www.asx.com.au/asxpdf/20200423/pdf/44h5lh41nntcw3.pdf Ventia's proposed acquisition of Broadspectrum not opposed] Australian Competition & Consumer Commission 23 April 2020
Transport operations
Between 1999 and 2010, Transield Services held a 50% shareholding with Transdev in Transdev TSL that operated bus services in Sydney (Shorelink), ferry services in Brisbane (TransdevTSL Brisbane Ferries) and tram services in Melbourne (Yarra Trams).[https://web.archive.org/web/20091015155709/http://www.transdevtsl.com.au/ Welcome to TransdeTSL] TransdevTSL Transfield Services again partnered with Transdev to operate Harbour City Ferries from 2012 until 2016.[https://web.archive.org/web/20190402131747/https://www.busnews.com.au/industry-news/1205/ferries-french-flavour Ferries' French Flavour] Australasian Bus & Coach 4 May 2012 From 2011 until 2018, Transfield Services also operated bus services in its own right under contract to the Department of Planning, Transport & Infrastructure in Adelaide (Light-City Buses).[http://webapps.transportsa.com.au/news/templates/dtei_template2010.aspx?articleid=1628&zoneid=1 New contractors for Adelaide bus services] Department of Planning, Transport & Infrastructure 29 April 2011"Light City Buses Gone". Australian Bus Panorama, issue 34/1, July 2018, page 5
Controversy
The appointment of Transfield Services to provide welfare services at the detention centres on Manus and Nauru was criticised by refugee advocacy groups on the grounds that the duty to shareholders conflicted with the interests of asylum seekers.{{cite news|url=http://www.theguardian.com/world/2014/feb/03/construction-company-set-to-take-over-salvos-asylum-seeker-welfare-services|newspaper=The Guardian|title=Construction company set to take over Salvos' asylum seeker welfare services|date=3 February 2014|access-date=21 August 2023}} In February 2014, this led to calls for an artist and audience boycott of the 19th Biennale of Sydney, which Transfield Services supported through the Transfield Foundation, providing approximately six per cent of the Biennale's total funding.{{cite news|url=http://www.smh.com.au/entertainment/art-and-design/refugee-outrage-threatens-sydney-biennale-sponsorship-20140221-3373k.html|newspaper=The Sydney Morning Herald|archive-url=https://web.archive.org/web/20140221082123/http://www.smh.com.au/entertainment/art-and-design/refugee-outrage-threatens-sydney-biennale-sponsorship-20140221-3373k.html|archive-date=21 February 2014|date=21 February 2014|title=Refugee outrage threatens Sydney Biennale sponsorship|first=Andrew|last=Taylor}} Following protests and widespread criticism on social media, Executive Director of Transfield Holdings Luca Belgiono-Nettis subsequently resigned from his position as Chairman of the Biennale Board, and the Biennale severed its 41-year sponsorship relationship with Transfield Holdings.{{cite news|last=Fortescue|first=Elizabeth|title=Biennale Future in Doubt|url=http://www.dailytelegraph.com.au/entertainment/arts/biennale-of-sydney-future-in-doubt-as-chairman-luca-belgiornonettis-resigns-over-disputed-links-to-detention-centres/story-fniv7r7y-1226848360250|accessdate=12 March 2014|newspaper=The Daily Telegraph|date=7 March 2014|archive-date=8 March 2014|archive-url=https://web.archive.org/web/20140308032605/http://www.dailytelegraph.com.au/entertainment/arts/biennale-of-sydney-future-in-doubt-as-chairman-luca-belgiornonettis-resigns-over-disputed-links-to-detention-centres/story-fniv7r7y-1226848360250}} This decision itself led to debate, with boycott organisers saying the boycott was successful, while their opponents claimed it had jeopardised the future of corporations and businesses funding the arts in Australia.{{cite news|last=Pickard|first=Nicholas|title=Arts kicks own goal in Biennale of Sydney stoush and risks vital clash|url=http://www.smh.com.au/comment/arts-kicks-own-goal-in-biennale-of-sydney-stoush-and-risks-vital-clash-20140308-34dzu.html|accessdate=12 March 2014|newspaper=The Sydney Morning Herald|date= 9 March 2014}}