Endeavour consolidates after acquisition

Written on the 16 October 2009

LEADING disability services provider Endeavour Foundation will consolidate its acquisition of Sydney-based Cumberland Industries before undertaking further expansion.

Despite enterprise slowing in the economic downturn, the acquisition marks the first interstate venture of the non-for-profit organisation after 60 years in Queensland.

Endeavour Foundation CEO David Barbagallo, says the company’s decision to acquire Cumberland was heavily influenced by the possibility of 580 workers with a disability losing their jobs after the Sydney company went into receivership.

“That was the initial factor however we have always had a vision of being a national company and we wanted to create more of a national presence,” says Barbagallo.

“From here a period of consolidation will be wise as mergers and acquisitions obviously take time.”

Barbagallo says despite going into receivership some aspect of Cumberland, in particular the administration, was first class.

While remaining tight-lipped on the acquisition deal until next year’s financial review, Barbagallo says the asset, equipment and inventory deal will be highly beneficial for Endeavour having boosted its personnel numbers to just less than 2000.

Revenues last year exceeded $125 million with the 40 per cent profit margin going back into creating a better support base for Endeavour’s employees with a disability.

Despite the company undergoing a period of business expansion, Barbagallo admits the biggest challenge has continually been finding the right balance between creating opportunity for employees with a disability and proving legitimate services to clients.

“Endeavour has been operating for close to 60 years and the training development programs in place strive to help our workers reach their potential,” he says.

“The key is to vary the tasks so they are not doing the same repetitive job every day. This increases their skill levels and gets them closer to the goal of being able to enter the general workforce.

“For too long people with disabilities have been shunned into institutions, they are part of our community and we promote this by aiming to provide the best practices across all of our services.”


Latest News

CROMWELL TRADES STEADILY IN FIRST HALF

CROMWELL Property Group has maintained a steady operating profit at $0.045 per security in the first half of FY17,...

WHY NEXTDC'S STOCK IS SOARING

AFTER posting its interim result, NEXTDC (ASX: NXT) gained more than 12 per cent on the stock market before noon.
...

PWR PROFIT CRASHES AS DOLLAR RISES AND COSTS MOUNT

A RISING Aussie dollar has offset PWR Holdings Limited's (ASX:PWH) overseas growth in the last half, forcing a...

SUPER RETAIL GROUP RESULTS SHINE ACROSS THE BOARD

A WELL-planned and executed half has paid off for Super Retail Group (ASX:SUL) as it posts a net profit result up ...

Related News

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter