GenusPlus buys Universal Communications for NZ$65M
- GenusPlus Group executed an agreement to acquire 100% of Universal Communications Group Holdings for up to NZ$65 million in cash.
- The deal includes an upfront cash payment of NZ$38.3 million, deferred cash of NZ$1.8 million, and earn-out payments up to NZ$25 million.
- The transaction expands GenusPlus Group's telecommunications presence into New Zealand and the Pacific Islands.
GenusPlus Group (ASX:GNP) executed an agreement to acquire 100% of Universal Communications Group Holdings for up to NZ$65 million in total cash consideration.
The transaction compares an upfront and deferred valuation multiple of 5.1x EV/EBIT against Universal Communications Group's unaudited FY26 revenue of approximately NZ$96 million and adjusted EBIT of NZ$7.8 million.
Universal Communications Group brings a 10+ year relationship with Chorus and long-term network maintenance capability across New Zealand's upper North Island.
Genus Managing Director David Riches said, "UCG is a highly complementary acquisition that will add scale and capability to our services business and establish a platform for further growth in New Zealand."
The acquisition structure comprises NZ$38.3 million upfront, NZ$1.8 million deferred over two years, and up to NZ$25 million in contingent earn-out payments based on FY27 and FY28 adjusted EBIT targets.
GenusPlus Group stated that the acquisition is expected to be immediately earnings accretive while establishing a platform to drive growth across critical infrastructure sectors.
Following the announcement, the GenusPlus Group share price was down at $9.29.
The company provides power, telecommunications, and engineering services to Tier 1 network owners across Australia and regional international markets.
