Tasmea Ltd. (ASX: TEA), a specialist trades services group, has signed a binding share purchase agreement to acquire 100% of Maxim Group Australia, a Victoria-based specialist electrical contractor, for up to A$254 million (US$165 million), the company's largest acquisition since listing.
Maxim employs approximately 600 full-time staff, including high-voltage-accredited and rail-inducted specialists, and has delivered more than 450 projects. Its forward project pipeline exceeds A$1.3 billion, with primary exposure to data center construction, battery energy storage systems, major government rail and transit infrastructure, and renewable energy developments - all concentrated in Victoria's high-growth eastern corridor.
The agreement was executed on 1 June 2026, and settlement is targeted on or around 1 July 2026, subject to the satisfaction of customary conditions precedent, including obtaining ACCC approval to proceed under Australia's new mandatory merger control regime.
Image Credit: Tasmea