A US billionaire has acquired an Australian engineering firm for $900 million. 

Resource Capital Funds has offloaded Ausenco, the engineering and consulting company, to a US billionaire and private equity firms keen on expanding their stake in battery minerals and the energy transition sector.

Eldridge Industries, led by billionaire Todd Boehly, known for his involvement in Major League Baseball's Los Angeles Dodgers and film studio A24, now stands as a key owner of Ausenco. 

Brightstar Capital and the financially robust Claure Group, which holds a stake in Brightstar, have also entered the ownership circle.

Marcelo Claure, an influential figure within the Claure Group, has announced his ambition to leverage Ausenco's capabilities to position Latin America as a significant player in the lithium and copper markets.

Ausenco, a cornerstone of RCF's investment portfolio since its initial investment in 2014, was established in Brisbane in 1991 and has since expanded its operations to 15 countries, employing approximately 3,000 people. 

The company's project portfolio spans wind and solar farms and includes the construction of four major copper concentrators, such as the one at South Australia's Carrapateena project, recently acquired by BHP in a $9.6 billion deal with OZ Minerals.

With the growing electrification of global economies, copper is anticipated to be in high demand. 

James McClements, Chairman of ASX-listed Mineral Resources and head of RCF, believes that Ausenco's focus on mining aligns seamlessly with RCF's strategy of nurturing mining businesses that yield robust returns.

Zimi Meka, co-founder of Ausenco, who also serves on the MinRes board, will continue to lead the company as CEO, remain a board member, and retain an ownership stake.

Todd Boehly and Eldridge's co-founders, Tony Minella and Duncan Bagshaw, stated, “We invest in what people need and what people want... Ausenco has worked around the world to deliver minerals critical to nearly every aspect of our lives and to the ongoing energy transition”.

Marcelo Claure, founder and CEO of his global investment firm, plans to join the Ausenco board and intensify the company's presence in Latin America. 

He emphasised Latin America's pivotal role in supplying essential minerals, like copper and lithium, to meet the surging demand for sustainable energy.

“With the shift to more sustainable energy gaining momentum, Latin America will have a key role to play as the main producing region for essential minerals, such as copper and lithium,” he said.

“Given Ausenco’s strong presence and pipeline of projects in the region, we believe the company will be at the forefront of this transition, actively contributing to the electrification of the world.”

One of the most sought-after lithium assets in Latin America is the Grota do Cirilo mine in Brazil, currently owned by Canadian company Sigma Lithium, but potentially open to new ownership. 

The mine's size is on par with Liontown Resources' Kathleen Valley project in Western Australia, making it a highly coveted asset in the lithium market.