Under the agreement Humanis will pay $1 million for Gnomic, with $500,000 to be paid up front and the remainder to be paid on an instalment basis. The acquisition is expected to add $500,000 to Humanis’ earnings before interest and tax.

Gnomic managing director Chrissy McGuire has been employed by Humanis to help transition its existing clients and staff to the Humanis network and to help grow the business.

Gnomic specialises in providing geotechnical contractors and consultants to the minerals and energy sectors in Australia and overseas for both short-term and long-term contracts.

The company’s client base includes BHP Billiton, Rio Tinto, Hancock Exploration, Xstrata, One Steel and Queensland Mining Corporation.

Established in 1985, Gnomic is one of the oldest geoscience contracting groups in north Queensland and currently generates $12 million in annual revenue.

The acquisition should be officially settled on April 30.

Humanis’ acquisition of Gnomic follows it acquisition of Total Recruitment Group late last year to expand its industry coverage.

It bought the recruitment company for $8.25 million in cash and $6.75 million worth of company shares at an issue price of 30c.

Humanis Group shares were unchanged at 12c in early morning trade.