Tasmea jumps on $254m Maxim acquisition

Engineering services company Tasmea Ltd (ASX:TEA) surged 16.1% after unveiling plans to acquire specialist contractor Maxim Group in a deal worth up to $254 million, strengthening its position in fast-growing infrastructure, electrification and data centre markets.

The transaction, expected to complete around July 1 subject to ACCC approval, comprises $112 million in cash, $72 million in Tasmea shares and up to $70 million in earn-out payments tied to EBIT performance.

Tasmea said the acquisition would be immediately earnings accretive, delivering an estimated 31% uplift in FY26 earnings per share on a pro forma basis, excluding synergies. The deal is also expected to lift group electrical EBIT to around $100 million.

Maxim brings a project pipeline exceeding $1.3 billion and exposure to major growth sectors, including data centres, battery energy storage, rail infrastructure and energy transition projects across Victoria.