A major Tasmanian business transaction is set to create one of the state’s largest private employers, with employee-owned Sonic Civil Investments announcing its acquisition of infrastructure maintenance company Stornoway Pty Ltd.
The Launceston-based Sonic, which already owns Shaw Contracting and The Harding’s Group, will add Stornoway’s operations to its portfolio in a deal expected to complete by the end of 2025.
Sonic CEO David Finnigan said the acquisition is significant for the state’s economy.
“The agreement we are announcing today will result in the creation of one of Tasmania’s largest private employers and it is with pride that this has been achieved by a Tasmanian employee-owned company,” Finnigan said.
The combined workforce will exceed 450 employees, with Sonic confirming there will be no job losses resulting from the change in ownership.
Stornoway, which has been family-owned for over 50 years, provides infrastructure services including road and bridge maintenance, asset management, water treatment, and traffic management across Tasmania and Queensland.
Tim Gardner, owner of Stornoway, said he was satisfied with the agreement.
“My family has seen Stornoway grow over the last 50 years and I am proud of the services we provide to Tasmanians and proud of the legacy we have created,” Gardner said.
“I am delighted that we have been able to reach agreement with Sonic as there is great alignment between the culture and values that are important to me and to all at Stornoway.”
The deal will see Stornoway CEO Dean Jones remain with the business and join Sonic’s board of directors.
Sonic’s existing subsidiaries include Shaw Contracting, which specialises in road construction, dam building and irrigation projects, and Hardings Group, which focuses on civil contracting and asphalt operations.
Both companies currently employ about 120 staff each and serve public and private sector clients across Tasmania.
