LVX Global based in Adelaide collapses into administration

A global infrastructure engineering company that is based in South Australia and was valued at $30million has collapsed.

Five companies under LVX Global Group plunged into administration on March 27, leaving 25 staff in the lurch.

The company has offices in the United States, Germany and South Korea, with its headquarters in Adelaide.

Administrators Ken Whittingham and Mark Robinson, of Fort Restructuring, have been appointed, and said the company had several projects ongoing.

The pair said the business would either be sold or restructured under a deed of company arrangement.

'Under either scenario we expect that most employees' jobs will be preserved, and the businesses will continue to trade,' they said in a statement.

'The employees of this group have specialist and proven technology-led engineering expertise and a track record of successful building and other infrastructure related projects.'

LVX Global has worked on major infrastructure projects such as Sydney's light rail and the Brisbane Airport.

The company was founded in 1991 and completed projects across Australia before going international. 

LVX Global was valued at $30million last year as it gained $5million from investors.

The company claims it has a presence in 20 countries around the world, and offers services in technology consulting, strategy, engineering and project management.

The businesses listed as going into administration are LVX Global Holdings Limited, lvX Global Consulting Pty Limited, LVX IOT Pty Limited, Norman Asset Delivery Pty Ltd and LVX Global (IP) Pty Ltd. 

LVX Global also did work on NSW's Royal Botanic Gardens.