Contracting services company Maali Group faced administration after losing a major contract and accumulating a $10.4 million tax debt. Administrators McGrathNicol took over in March and received multiple offers to save the company, including a proposal from Halo Civil Engineering. The majority of creditors approved a deed of company arrangement that would give Halo Civil a 49% stake in Maali Group and ensure the payment of all employees. Founder Mitchell Matera would retain 51% ownership under the agreement.
Mitchell Matera, who founded Maali Group in 2019, expressed his dedication to the company and the challenges it faced. Despite securing contracts with major clients such as BHP, Main Roads WA, and Regis Resources, the collapse of a subcontractor, onerous contracts, a growing tax debt, and the demands of private ownership took a toll on the company. Matera’s commitment to Maali Group’s success was evident as he worked to secure a deal that would save the company and preserve over 120 jobs.
The approval of the deed of company arrangement by creditors marked the end of a month-long administration process for Maali Group. This lifeline secured the future of the company and ensured the continuation of its operations, allowing employees to keep their jobs and restoring stability to the business. The partnership with Halo Civil Engineering provided a path forward for Maali Group to overcome its financial challenges and emerge stronger from the administration process.
The successful bid by Halo Civil Engineering to rescue Maali Group demonstrated a commitment to supporting indigenous-owned businesses in WA. Maali Group, as one of the largest Aboriginal-owned and run contracting services companies in the region, faced significant hurdles that threatened its survival. The partnership with Halo Civil Engineering not only saved the company but also highlighted the importance of collaboration and support within the business community to preserve jobs and promote economic growth.
Peter Breen, founder of Halo Civil Engineering, played a crucial role in securing the deal to pull Maali Group out of administration. The partnership between the two companies allowed Maali Group to benefit from Halo Civil’s expertise and resources, creating a sustainable future for the contracting services company. The collaboration between the two firms showcased the potential for businesses to work together to overcome challenges and create opportunities for growth and success.
Moving forward, the focus for Maali Group will be on restructuring its operations, addressing its tax debt, and strengthening its position in the market. The support from creditors, administrators, and the new partnership with Halo Civil Engineering provides a solid foundation for the company to rebuild and thrive. By learning from past mistakes and leveraging the expertise of its new partners, Maali Group can emerge from this challenging period as a more resilient and successful business, poised for sustainable growth and continued success in the contracting services industry.
