McNally Group Contracting
McNally Group Contracting provides full turn-key solutions for accommodation villages and non-process infrastructure to the mining, resources, oil and gas sectors.
Need
When McNally Group Contracting began securing larger projects, it needed support to provide additional levels of security.
Solution
To support the business to take on additional contracts, we provided McNally Group Contracting with the bonds it needed.
When fast-growing McNally Group Contracting began winning contracts upwards of $70 million, it needed to explore additional finance options to meet larger bonding requirements. This is where we were able to step in to provide the business with the finance it needed to continue to grow.
McNally Group Contracting provides full turn-key solutions for accommodation villages and non-process infrastructure to the mining, resources, oil and gas sectors. With a strong reputation in the sector and an increasing number of projects coming online, the business has several contracts it is delivering simultaneously.
With the capacity to take on more work and an appetite to continue to grow, McNally Group Contracting needed to meet larger security requirements to secure contracts.
Having someone that's always in your corner and wanting to see you grow, is a huge help. The team at Export Finance Australia is always keen to know what we're up to, forward looking and is there to support our growth.
Mark McNally
Managing Director, McNally Group Contracting
“We started working with Export Finance Australia in 2019. We went from winning projects around $20 million, then $30 million and then all of a sudden were bidding on $70 million projects and winning,” Mark McNally, Managing Director, McNally Group Contracting explained.
“At that time for us, being able to put up bonds or bank guarantees for projects of that size became difficult,” Mark said.
“You've got performance guarantees and then you've got your defects liability period. So, while we have the capacity to take on more work, we needed the capacity to provide greater levels of security, and that's when Export Finance Australia came to our assistance.”
Confidence to grow
With the goal to take on more projects, McNally Group Contracting began working with our team in WA to get the security it needed, which can often prove to be challenging for large projects.
As a supplier of crucial services to the mining and resources sector, we have been able to support McNally Group Contracting with a range of bonds, including performance and warranty bonds, for a number of projects.
“The support from Export Finance Australia is crucial. For the size of the company that we are now, we’re working on $160 million worth of projects and that’s still growing. Without Export Finance Australia, we're not going to be able to provide that level of security, and it's going to inhibit our growth.”
Now that McNally Group Contracting has built a relationship with our team in WA, Mark said that he often touches base to discuss upcoming projects.
“Now when we bid on a project, we're actually saying that we're going to provide securities by way of Export Finance Australia.”
“With Export Finance Australia being a government body, there is a level of credibility that comes with that and surety when you're trying to negotiate and get that over the line,” Mark highlighted.
Mark said that working with Export Finance Australia has given the business a level of confidence to look forward and bid on more projects, which is supporting his growth ambitions.
