Online equipment hire database iSeekplant has attracted an investment move by Seven Group Holdings.
The media corporation acquired a 25 per cent stake in the company.
Seven Group CEO Ryan Stokes said iSeekplant was “driving innovation, efficiency and productivity in this important sector, using technology to help improve efficiency and relationships between the various players”.
iSeekplant CEO Sally McPherson welcomed the investment, describing Seven Group as a “cornerstone investor”.
“Following our strong growth over the last year with the signing of major contractors to our platform, we can take the business forward quickly with the addition of SGH as a cornerstone investor,” she said.
McPherson said with 3400 equipment hire firms using the plant procurement platform, the site now enjoys use by a number of major contractors such as CPB Contractors, Clough, Downer EDI, BMD Constructions, John Holland, Laing O’Rourke, Acciona, Chevron, UGL and Rio Tinto.
“Through our cloud-based platform, we are facilitating high quality matches between contractors and suppliers, providing information on 65,000 machines according to the equipment type, location and availability in both remote and city areas,” she said.
“Over the last year, 2700 contracting businesses have used our easy to use public site to find equipment, with close to 500 new plant and equipment hire companies registering for the service in the first three months of calendar 2016.”