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Ventia
Ventia
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Ventia is an infrastructure services provider based in Australasia that provides a range of services to clients in both the public and private sectors. Ventia was founded in 2015 and is headquartered in North Sydney, Australia. Ventia has secondary corporate offices located in Auckland, Brisbane, Melbourne, Adelaide and Perth.

Key Information

Ventia's services include facility management, asset management, telecommunications, engineering, environmental management, and more. Ventia has clients including government agencies, utilities, property owners and private companies. Some major clients include Chorus, NBN, Transpower, and the Australian Defence Force.

History

[edit]

In 1987 Thiess Services launched its environmental services business.[1] In 1994, Visionstream was established as a subsidiary of Telstra, to design and build its cable television network.[2] In December 1996 Leighton Contractors purchased Visionstream.[3]

In 2015 CIMIC Group merged its Leighton Contractors Services, Thiess Services and Visionstream divisions to form Ventia. Apollo Global Management took a 50% shareholding in the company.[4] In June 2020, Broadspectrum was purchased from Ferrovial.[5][6]

In 2021 Ventia was floated on the Australian Securities Exchange and New Zealand Exchange as a dual listed company.[7][8] CIMIC and Apollo each retained 32.8% shareholdings. In May 2023, both reduced their stakes to 15%.[9]

References

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Revisions and contributorsEdit on WikipediaRead on Wikipedia
from Grokipedia
Ventia Services Group Limited is a leading essential services provider operating across and , specializing in the long-term operation, maintenance, and management of critical public and private assets and . The company delivers services to diverse industries, including defence, social , , , and networks, with a focus on , , and cost-effective solutions for both and commercial clients. Founded through the merger of established entities with roots tracing back over 65 years, Ventia combines expertise from predecessors such as Transfield Services (established in 1956), Thiess Services, and Visionstream to support communities by ensuring reliability 24/7. Ventia's history reflects a consolidation of key players in the sector. It was formed in from the integration of Leighton Contractors Services, Thiess Services, and Visionstream, building on legacies like Transfield Services' early projects in the and Thiess' environmental services expansion in the . Key milestones include major contracts such as the ANZAC frigates project and growth through acquisitions in the . The company went public in 2021, listing on the Australian Securities Exchange (ASX) under the ticker VNT and the New Zealand Exchange (NZX), marking its transition to a publicly traded entity with a strong emphasis on strategic growth and client partnerships. In December 2024, the Australian Competition and Consumer Commission (ACCC) initiated civil proceedings against Ventia and Spotless Facility Services for alleged price-fixing in contracts for services at bases; the case remains ongoing as of November 2025. Today, Ventia offers a comprehensive suite of services, including integrated facilities , , asset lifecycle support from to decommissioning, and specialized capabilities in high-voltage technical services and defence base operations. It serves as Australia's largest provider of and for defence bases and holds a top position in integrated facilities across , while committing to net-zero emissions by 2050. With operations spanning urban and remote locations, Ventia supports vital sectors by managing everything from road and marine assets to installations, ensuring resilient for everyday community needs.

Overview

Company profile

Ventia Services Group Limited is a leading provider of essential infrastructure services, with roots tracing back to 1956 through predecessor companies such as Broadspectrum (formerly Transfield Services, founded in 1956) and Leighton Contractors (established in 1949 as part of Leighton Holdings). The company was formally created in 2015 as a result of the merger of 's Leighton Contractors Services, Thiess Services, and Visionstream divisions, later expanding through the 2020 acquisition of Broadspectrum. Headquartered in North Sydney, , Ventia employs more than 35,000 people across over 400 sites in and as of 2025. Its core mission focuses on delivering critical , maintenance, and support services to sustain vital for governments, communities, and essential industries. Ventia has been publicly listed on the Australian Securities Exchange (ASX) under the ticker VNT since its on November 19, 2021, and is recognized as an ASX 200 company. As of November 13, 2025, the company's stands at approximately A$4.79 billion.

Business activities

Ventia operates through four primary organizational segments: Defence & Social Infrastructure (D&SI), Infrastructure Services (IS), , and . These segments enable the company to deliver integrated solutions across diverse areas of essential . The of Ventia revolves around securing long-term contracts to operate, maintain, and manage critical public and private assets, fostering stability through recurring revenue streams and client partnerships. This approach emphasizes efficiency, innovation, and sustainability in service delivery, with a focus on and blue-chip clients. For the financial year 2024 (FY2024), was distributed across segments as follows: D&SI generated $2,579.4 million, accounting for 42.2% of ; Infrastructure Services contributed $1,316.7 million (21.6%); $1,577 million (25.8%); and $632.4 million (10.4%), with overall group reaching $6,105.5 million. Ventia's operations underscore its role in providing essential services for , including defence facilities, social assets, telecom networks, and systems, which support and . As of June 2025, the work-in-hand backlog stood at $20.6 billion, reflecting a robust of future secured through wins.

History

Origins and early development

Leighton Contractors, the foundational entity behind what would become Leighton Contractors Services, traces its origins to 1949 when Englishman Stanley Leighton established the company in as a construction firm focused on civil engineering projects. Initially involved in small-scale infrastructure work, it grew steadily and listed on the Stock Exchange in 1962, marking its transition into a major player in the sector. By the , Leighton had expanded internationally, becoming one of the first Australian construction companies to establish operations in , which laid the groundwork for diversified services. Leighton Contractors Services emerged as a dedicated arm within the broader Leighton Group (later ) in the late , capitalizing on the company's construction expertise to enter facilities management and . A key early milestone was securing a for Sydney's project, which opened in 2000 and highlighted Leighton's pivot toward ongoing support services during the and economic expansion. Thiess Services originated from the longstanding Thiess company, founded in 1934 by the five Thiess brothers in rural as a contracting and earthworks with roots in and . Acquired by Leighton Holdings in 1983, Thiess evolved its operations, launching an environmental services division in 1984 following a major remediation contract that shifted focus from pure toward broader support. In the post-2000 period, Thiess Services further diversified into facilities and , building on its heritage to address growing demand for integrated services in resources and public sectors. Visionstream was founded in as a subsidiary of to design and construct the giant's $4 billion cable TV rollout, specializing in network infrastructure deployment. Acquired by Leighton Contractors in 1996, it rapidly expanded during the telecom boom, becoming a leader in fiber optics and broadband infrastructure across and by delivering construction and maintenance for mobile and fixed-line networks amid surging demand for high-speed connectivity. By 2015, these predecessor entities—Leighton Contractors Services, Thiess Services, and Visionstream—collectively represented over 65 years of accumulated experience in services, stemming primarily from Leighton's foundational work in and . This legacy positioned them for integration into a unified services provider.

Formation and initial mergers

Ventia was formed in 2015 through the merger of the services division of Leighton Contractors, Thiess Services, and Visionstream, all subsidiaries under ownership. This strategic combination established Ventia Services Group Pty Limited as an integrated entity specializing in facilities management, engineering services, and infrastructure. The merger was completed on 31 March 2015 as part of a 50:50 investment partnership between and funds managed by affiliates of , creating an independent private joint venture focused on essential infrastructure services in and . The new name, Ventia, was officially announced in September 2015, marking the unification of these pre-merger businesses with established legacies in support, mining services, and telecom deployment. Post-merger integration efforts emphasized operational synergies, including the harmonization of accounting principles, reduction of duplicate roles, and cost efficiencies across the combined operations. These initiatives addressed early challenges such as aligning diverse service lines and replacing parent company guarantees with independent arrangements, while leveraging complementary capabilities in , operations, and . By , the integrated business contributed significantly to CIMIC's joint ventures revenue of $2.68 billion, reflecting the scale achieved through these efforts. Ventia operated as a private entity under the CIMIC-Apollo structure, with initial corporate overheads minimized through shared services and a focus on long-term client contracts. Preparations for transitions began around 2020, setting the stage for expanded while maintaining CIMIC's substantial stake.

Growth and acquisitions

In June 2020, Ventia completed its acquisition of Broadspectrum from SA for an equity value of approximately A$485 million, integrating the latter's expertise in defence and social infrastructure services. This merger significantly expanded Ventia's capabilities, creating a combined entity with a exceeding 35,000 employees and annual revenue surpassing A$5 billion. The transaction enhanced Ventia's position in , particularly in and defence sectors, while streamlining operations through complementary geographic and client overlaps. Following the acquisition, Ventia undertook substantial preparations for its transition to a , including and operational enhancements between 2021 and 2022. In 2021, the company refinanced its facilities with a A$750 million syndicated and focused on integrating Broadspectrum to improve and . These efforts culminated in Ventia's (IPO) on the Australian Securities Exchange (ASX) and New Zealand Exchange (NZX) in November 2021, raising A$438 million at A$1.70 per share and valuing the company at approximately A$1.45 billion. The IPO proceeds, combined with new debt facilities, facilitated and positioned Ventia for sustained growth as a listed entity. Post-IPO, Ventia pursued expansion into emerging sectors, securing contracts in renewables and data centers by 2025 to diversify its portfolio amid Australia's infrastructure transition. In renewables, Ventia strengthened partnerships for grid-connected projects, including substation construction and maintenance for energy networks supporting net-zero goals. For data centers, the company entered the market through a A$1.6 million contract in June 2025 with DXN Solutions to deploy a prefabricated modular data center in Perth, enhancing its critical infrastructure offerings. These developments, alongside broader contract wins totaling over A$4 billion in 2025, underscored Ventia's strategic pivot toward high-growth areas like digital and sustainable infrastructure.

Operations

Services provided

Ventia offers a comprehensive portfolio of essential infrastructure services, encompassing facility and asset management, engineering and telecommunications, environmental remediation, and specialized operations in defence and transport. These services are designed to ensure the reliability, sustainability, and efficiency of critical assets across Australia and New Zealand. In facility and asset management, Ventia provides integrated hard and soft services to maintain and optimize buildings and infrastructure. Hard services include maintenance, repair, and upgrades of facilities, such as mechanical, electrical, and plumbing systems, alongside operations and maintenance for critical assets to balance risk, cost, and performance in accordance with ISO 55001 standards. Soft services cover cleaning, security, and waste management to create safe and compliant environments, with strategic deployment of skilled personnel to enhance service delivery and reduce operational costs. Asset management further involves optimization strategies, data collection and analysis using IoT sensors and in-house drone solutions, and predictive modeling to support informed investment decisions and sustainability goals. Ventia's and services focus on the , , and installation of robust network infrastructures. These include end-to-end network and build for optic cabling, solutions like /LTE and , and integration for scalable communication systems, from single-site installations to national rollouts. capabilities encompass , site acquisition, and commissioning of mission-critical environments, such as data centers, ensuring reliability and integrity through advanced technologies and a geographically diverse workforce. Whole-of-life support addresses evolving voice and data demands, delivering efficient and future-proof solutions. Environmental and remediation services at Ventia emphasize innovative, technology-driven solutions for control and , drawing on over 35 years of expertise. Remediation efforts transform contaminated land and waterways, targeting contaminants like PCBs, dioxins, and PFAS through large-scale projects managed by specialist engineers and scientists. Services include , analysis, and initiatives that incorporate global research and industry collaboration to minimize environmental impact and promote sustainable practices. These offerings support compliance and long-term ecological restoration without reliance on exhaustive numerical metrics. Specialized operations include defence base management, where Ventia delivers comprehensive estate support encompassing asset optimization, planned and reactive maintenance, and environmental protection strategies. This involves IoT-enabled monitoring, drone-based inspections, predictive risk modeling, and sustainable landscape management to enhance base functionality and resilience. For transport infrastructure upkeep, services cover whole-of-life asset management certified to ISO 55001, including pavement maintenance, drainage, lighting, and signage for roads; track, signaling, and tunnel upkeep for rail; and operational support for ports and airports such as electrical systems and security compliance. Additional capabilities in both areas include incident response, technology integration like intelligent transport systems, and stakeholder engagement to ensure operational efficiency and disaster recovery.

Key sectors and clients

Ventia operates across several key sectors in essential infrastructure services, primarily in and . These include defence, social infrastructure encompassing , , and facilities, networks and renewables, , , and local /industrial operations. In the defence sector, Ventia provides base services, maintenance, and estate management to support operations and personnel. In October 2025, Ventia secured a $935 million contract for Defence Clothing Services with the Department of Defence, commencing May 2026 for an initial seven-year term with options to extend up to 13 additional years. The company is recognized as a top four defence industry partner, delivering sovereign capabilities through long-term contracts. Social infrastructure represents another core area, where Ventia manages facilities for educational institutions, healthcare providers, and justice systems, including welfare-led services for correctional facilities. In networks and renewables, the company focuses on and operations for transmission, distribution, and renewable projects like solar farms. services cover , rail, and , emphasizing and in upkeep. involves network construction and for fibre optic and mobile systems, while and industrial services support community facilities, , and oil & gas operations. Major clients include the Australian Department of Defence, which accounts for a significant portion of Ventia's defence work through multi-billion-dollar agreements such as the $2.7 billion Base Services Transformation packages awarded in 2025 for estate and base support. State governments are key partners, with contracts from ' Transport for NSW, including the Sydney Road Asset Performance Contract for road since 2021, and Queensland transport authorities for similar infrastructure services. In telecommunications, is a primary client, with a five-year strategic agreement signed in 2024 valued at over $2 billion for lifecycle management of digital infrastructure facilities. Other notable clients include Western Power for a five-year contract and the for a $100 million facilities management extension to 2028. Ventia's client relationships are built on long-term public-private partnerships (PPPs) and framework agreements, providing stability and scale. For instance, in 2023, the company secured a significant Department of Defence for repair and maintenance, valued at approximately $393 million, highlighting its role in estate management. These arrangements often span multiple years, enabling integrated services across sectors while prioritizing and in client delivery.

Geographic presence

Ventia maintains its primary operational footprint within and , collectively known as the ANZ region, where it delivers essential services across more than 400 sites. The company's headquarters is located in North Sydney, New South Wales, , serving as the central hub for strategic and administrative functions. In , Ventia operates in all states and territories, with a presence in major urban centers including , , , Perth, , , Darwin, and , enabling comprehensive coverage for national-scale projects. Australia represents Ventia's core market, accounting for approximately 91% of its FY24 revenue, totaling $5,558.6 million out of a company-wide $6,105.5 million. Key facilities in Australia are concentrated in major hubs such as Sydney (head office at Level 8, 80 Pacific Highway, North Sydney), Melbourne (including Cremorne), and Brisbane (including Withcott in Queensland), supporting operations in defence, telecommunications, and transport sectors. In New Zealand, which contributes about 9% of revenue ($546.9 million in FY24), operations are centered in Auckland and Wellington, with additional activity in regions like Northland, focusing on utilities and transport infrastructure. Ventia's international exposure remains limited beyond ANZ as of 2025, primarily through a small in the United States (Ventia Deco LLC) and an Australia-based in East Timor (Broadspectrum (East Timor) Pty Ltd), with minor projects in the Pacific Islands linked to defence contracts. Several overseas , including those in and , were deregistered during FY24, underscoring a strategic focus on core ANZ markets. The company's workforce exceeds 35,000 individuals, encompassing direct employees and subcontractors, distributed predominantly across and . In , the majority of these personnel—estimated at around 30,000 including subcontractors—support operations nationwide, with over 40% engaged in regional and rural areas. New Zealand hosts more than 5,500 employees and subcontractors, representing a significant portion of the local team dedicated to infrastructure maintenance. This distribution aligns with Ventia's revenue profile, emphasizing scalable delivery in its primary geographies.

Corporate affairs

Leadership and governance

Ventia's executive leadership is headed by Managing Director and Group Dean Banks, who assumed the CEO role in January 2021 and was appointed Managing Director in June 2022. The is Mark Fleming, who joined in February 2024 to oversee financial strategy and operations. Amy Jackson serves as Group , having joined the executive team in February 2025 to lead legal and governance functions. The Board of Directors comprises seven members, chaired by David Moffatt since December 2014. Independent non-executive directors include Anne Urlwin ONZM, Damon Rees PSM, Jeff Forbes, Sibylle Krieger, and Lynne Saint, providing oversight on strategy, risk, and compliance. The board operates through specialized committees, including the Audit, Risk and Compliance Committee, Nominations Committee, People and Remuneration Committee, and Safety and Sustainability Committee, each with defined charters to ensure effective governance. Ventia adheres to the ASX Corporate Governance Principles and Recommendations, as outlined in its annual Corporate Governance Statement. The company integrates ESG reporting in line with Australian standards, overseen by the Safety and Sustainability Committee, emphasizing , , and governance integrity. Diversity initiatives include targets for gender balance, with women comprising 43% of the board as of May 2025, supporting broader efforts to achieve 40% female representation in leadership roles by 2030. In 2025, Ventia strengthened its leadership in key areas with appointments including Mark Ralston as Group Executive for Defence and Social Infrastructure, Derek Osborn transitioning to Group Executive for Innovation and Transformation, and Damian Pedreschi as Group Executive for , all effective in to drive sector-specific growth and operational excellence.

Financial performance

Ventia's revenue has demonstrated consistent growth, increasing from A$5.2 billion in the financial year ended 31 December 2022 (FY2022) to A$5.7 billion in FY2023 and A$6.1 billion in FY2024, reflecting expansion in key sectors including defence contracts that contributed significantly to this trajectory. In the first half of FY2025 (ended 30 June 2025), revenue reached A$3.0 billion, a slight decline of 1.5% year-on-year, amid a strategic shift toward higher-margin work, with full-year FY2025 projections indicating continued stability supported by a robust contract pipeline. Profitability metrics have remained resilient, with EBITDA margins holding steady at approximately 8.2% across FY2022 to FY2024, expanding slightly to 8.3% in HY2025 due to operational efficiencies and a focus on premium services. Net profit after tax and amortisation (NPATA) stood at A$227.9 million in FY2024, marking a 12.8% increase from the prior year. Following its 2021 , Ventia actively deleveraged its , utilizing IPO proceeds to reduce debt; by December 2024, gross debt levels were approximately A$745 million, with net debt A$577 million as of June 2025. Key performance indicators underscore Ventia's operational strength, including a work-in-hand backlog of A$20.6 billion as of 2025, up 19.4% from the prior period, providing visibility into future revenues primarily from defence and clients. reached 34.9% in FY2024, supported by efficient capital allocation. The company's targets a payout of 60-80% of NPATA, with FY2024 dividends reflecting a ratio of approximately 67%, balancing returns with reinvestment needs. In late 2024, Ventia's share price experienced volatility, declining by about 18% over five trading days in December following allegations of price-fixing by the Australian Competition and Consumer Commission related to defence services contracts, though the company maintains these claims lack merit and continue to secure new awards.

Controversies

In December 2024, the Australian Competition and Consumer Commission (ACCC) initiated civil proceedings in the Federal Court against Ventia Australia Services Pty Ltd and Spotless Facility Services Pty Ltd (a subsidiary of Downer EDI), along with four senior executives, alleging a price-fixing cartel in relation to estate maintenance services at over 200 Australian Defence Force bases. The allegations cover conduct from April 2019 to August 2022, during which the companies purportedly agreed to fix prices for their bids on multi-billion-dollar Defence contracts, including a combined $5.75 billion in awards despite the alleged misconduct. Named executives from Ventia include former general manager Gavin Campbell and former contracts director Lena Parker. Potential penalties include fines up to the greater of $10 million, three times the benefit gained, or 10% of the companies' annual turnover for conduct prior to November 2022. Prior to Ventia's 2020 acquisition of Broadspectrum, the latter's operations included joint ventures in private correctional facilities, such as the MTC-Broadspectrum managing Parklea Correctional Centre from 2019, which faced ongoing scrutiny over labour conditions, inmate safety, and compliance. Broadspectrum also operated offshore immigration detention centres on and until 2017, withdrawing amid international pressure related to detainee treatment and facility conditions, including allegations of inadequate labour protections and welfare standards. These historical involvements drew regulatory and advocacy attention to compliance risks in privatized custodial services, though no major legal penalties were imposed on Broadspectrum prior to the acquisition. Ventia divested from prison operations by the end of 2020 as part of post-acquisition restructuring. As of November 2025, the ACCC proceedings remain ongoing, with no final rulings issued. The implicated Defence contracts expired in mid-2025, after which Ventia secured new multi-billion dollar contracts in September 2025. Ventia has stated it is reviewing the allegations and does not intend to comment further, implicitly denying wrongdoing while cooperating with the investigation. The case has contributed to short-term share price declines for Ventia, with broader financial impacts addressed in corporate reporting.

Contract performance and industrial disputes

In October 2025, the South Australian Auditor-General's report criticized Ventia's performance under its $4.2 billion Across Government Facilities Management Arrangements (AGFMA) contract, awarded in 2021 for maintaining government assets including schools, hospitals, and prisons. The report found the contract "not operating as intended," citing risks in cybersecurity compliance, gaps in , non-compliance with policies, delays, and poor value for money. The South Australian government attributed design flaws to the previous administration, while Ventia declined to comment. The contract's initial term is set to end on July 1, 2027, with potential extensions under review. In July 2025, court security and custodial officers employed by Ventia in walked off the job for eight hours in Perth, protesting over pay disparities, unsafe staffing levels, and the company's alleged mismanagement of enterprise agreement negotiations, including a reversal on agreed safety conditions. This was the second strike that year, following one in , with workers demanding "same job, same pay" parity with competitors like . Despite a $6 million injection into the contract earlier in 2025, no resolution was reported as of the incident.

Security incidents

In July 2023, Ventia detected a cyber incident affecting select internal systems, prompting the company to take certain key systems offline to contain the breach. The incident, which began over the weekend of July 8-9, disrupted some operations but caused minimal overall impact to business continuity, with no evidence of personal information being lost, accessed, or shared. Ventia, as a provider of essential services to and clients, including critical functions in sectors like defence and , engaged external cybersecurity experts such as CyberCX, along with regulators and , to investigate and mitigate the threat. The company reported that the incident was fully contained and resolved by August 2023, with systems safely restored and regular updates provided to affected customers. No ransom was paid, and there was no notifiable under Australia's , though some customers required subsequent "systems assurance" work to verify integrity. In response, Ventia reinforced its cybersecurity measures, including ongoing collaboration with external specialists to enhance protocols and prevent future occurrences. This event underscored broader vulnerabilities in Australia's amid escalating cyber threats in the ANZ region, where attacks on have risen significantly between 2023 and 2025, driven by factors like and state-sponsored intrusions. No additional major security incidents involving Ventia have been publicly reported as of November 2025.

References

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