Dubbo-based company Maas Group Holdings has listed on the Australian Securities Exchange (ASX).
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Chief executive officer Wes Maas rang the bell on Friday to mark the moment its shares started to trade on the market.
The quarrying, civil construction and hire, residential and commercial property builder, and underground services and equipment company operates across Australia.
The listing marks a significant new chapter for the business that Mr Maas, 40, started as a bobcat hire venture after finishing his rugby league career.
The process to list on the ASX also cemented Mr Maas' debut on the Financial Review Young Rich List at number 55, published in the most recent Australian Financial Review Magazine.
He had sold down his holding in the company to 55.6 per cent, leaving him with a "wealth pile of about $347 million", the AFR reported.
Mr Maas' focus was on the ASX listing, and he spoke to the Daily Liberal before heading to Sydney for the landmark day, which was also attended by "family and founders, and other key staff and executives".
"The listing is just the next step for the company to continue our growth, and also for us to be able to raise capital and give us another option on growth," he said.
Almost 30 years ago when he was 11 years of age, Mr Maas' parents moved the family to Dubbo.
"We moved out here for a better opportunity, having a better life than living in suburbia in Sydney," he said.
Rugby league was the first career to beckon and Mr Maas played in Sydney for five years, but it was his job with a hire company that proved a crucial experience.
"When I first moved home, I had $14,000 to my name, and I bought a bobcat, and I borrowed $25,000 and bought a truck and built the business from there," he said
"So I've basically come from nothing and no money at all.
"I've been lucky to have key staff, who I've kept the whole way through the journey."
Now Maas Group Holdings employs 630 people, "about 430 in Australia and 200 overseas".
"We employ about 200 people in Dubbo, our head office being Dubbo and all our corporate function is in Dubbo and we're very proud of Dubbo and we're probably one of the biggest advocates of Dubbo to try and grow the town and support charity and sporting groups," Mr Maas said.
Success in business comes back to "how good your staff are, how good your service is", the CEO says.
"I suppose we've always delivered what we said we're going to deliver, and we've built a great team," Mr Maas said.
"We think our team is so important, so it's always been an important focus for me, making sure the team is engaged and stimulated and a part of the journey."
The CEO reports all four segments of the company are growing and the plan is to "continue to expand in other areas".
"So we're looking forward to the opportunity, we've sort of recapitalised the company and we've got liquidity or funds available to take advantage of opportunities as they become available," Mr Maas said.
Faye Wheeler
I have been a journalist for more than a decade and in that time I have been keeping Daily Liberal readers up to date about issues affecting them and what's happening in their community. Throughout my career I have covered a range of rounds and most recently I have been focusing on the business round.
I have been a journalist for more than a decade and in that time I have been keeping Daily Liberal readers up to date about issues affecting them and what's happening in their community. Throughout my career I have covered a range of rounds and most recently I have been focusing on the business round.
