A 40-year-old engineering consultancy firm that worked on some of the nation’s largest projects has entered liquidation after what directors described as “a period of uncertainty”.
Indesco, which operated across the Australian Capital Territory, NSW and Queensland, has been voluntarily wound up after an acquisition deal with fellow ACT engineering firm Sellick Consultants.
It’s unknown whether the company in liquidation has any debts to creditors.
Indesco employed about 120 staff across six offices in Newcastle, Canberra, Melbourne, Brisbane, Parramatta and Wollongong, and had nearly a dozen shareholder companies tied to the business.
Indesco on LinkedIn said Sellick had agreed to buy key parts of its business, with the transition aimed at retaining staff, preserving technical capability and ensuring continuity for clients and active projects.
Current Indesco directors Angus Gorman and Anna Nagalingam will take on senior leadership positions within Sellick Consultants as the Indesco entity is wound up.
The company’s website was taken down on Thursday and calls to offices along the coast went unanswered.
Liquidator Ezio Senatore from Eddie Senatore Advisory said the investigation was ongoing into company’s debts and circumstances leading to the liquidation.
“I am trying to go through everything at the moment,” he said.
Indesco director Angus Gorman said in the post that staff and clients had responded positively to the announcement and transition arrangements would be finalised as quickly as possible.
“After a period of uncertainty, we are delighted to have been able to negotiate this outcome,” he said.
“It will enable teams currently operating within Indesco to stay together and continue delivering for their clients and projects, subject to the resolution of relevant client and contractual arrangements with Sellick Consultants.
“Our shared priority is continuity, quality and a smooth transition with minimal disruption.”
Founded in 1983, Indesco specialised in civil engineering and land development services, including project management, construction-phase services, structural facade engineering and traffic engineering across Australia and Southeast Asia.
The business previously operated under the names Weir & O’Neill and Bill Guy & Partners before rebranding to Indesco in 2010.
Among its most significant projects was the Taylor residential development in Canberra, the $74 million Queanbeyan Civic and Cultural Precinct on the NSW-ACT border,
Affinity apartment tower in Broadbeach, ISLE Newstead residential tower and Princess Alexandra Hospital’s expansion in Brisbane.
The companies have been contacted for comment.