What are the details of Tasmea’s (ASX:TEA) acquisition of Maxim Group?

Tasmea (ASX:TEA) has entered into a share purchase agreement to acquire 100% of specialist electrical contractor Maxim Group Australia and its subsidiaries for up to $254 million.

Why is Tasmea (ASX:TEA) acquiring Maxim Group?

The acquisition positions Tasmea as a national powerhouse by expanding its footprint into Australia's high-growth structural markets. Maxim Group brings direct exposure to sectors seeing heavy capital expenditure, specifically mining, electrification, energy, data centres, and infrastructure.

How will the Maxim Group acquisition affect Tasmea’s (ASX:TEA) earnings per share?

The transaction is highly lucrative for shareholders, with Tasmea forecasting a 31% pro forma earnings per share (EPS) accretion in FY26e on an ex-synergies basis.

What is the valuation multiple for Tasmea’s (ASX:TEA) acquisition of Maxim Group?

The deal is valued at an enterprise value of approximately $254 million, representing a conservative EV/EBIT multiple of roughly 5.4x FY26e. This valuation is calculated based on Maxim Group’s projected FY26e underlying EBIT of $47 million.

How much debt will Tasmea (ASX:TEA) take on for this transaction?

Tasmea will use a mix of cash and debt to fund the $112 million cash component of the upfront consideration. Post-deal, Tasmea's leverage is expected to remain conservative with a net debt to pro forma FY26e EBITDA ratio of approximately 0.8x, which sits safely below the company's internal target leverage range of 1.0x.

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Tasmea to acquire Maxim Group for $254M

Written by Mahathir BayenaPublished Jun 2, 2026, 3:44 AM

Tasmea (ASX:TEA) has executed a share purchase agreement to acquire 100% of Maxim Group Australia and its wholly-owned subsidiaries.

The acquisition of the specialist electrical contractor positions Tasmea as a national powerhouse exposed to Australia's key growth markets, including mining, electrification, energy, data centres, and infrastructure.

The total consideration for the transaction reaches up to $254 million.

This includes an upfront consideration of $184 million payable at completion, consisting of $112 million in cash and debt alongside $72 million in Tasmea scrip issued to the vendors.

A cash earn-out structure of up to $70 million will be distributed across FY27, FY28, and FY29, subject to Maxim achieving a maintainable EBIT target of at least $50 million per annum.

The deal represents a compelling valuation with an enterprise value of approximately $254 million, reflecting an EV/EBIT multiple of roughly 5.4x FY26e on Maxim’s projected underlying EBIT of $47 million.

The acquisition is highly lucrative for shareholders, boasting an estimated 31% forecast pro forma EPS accretion in FY26e, while Tasmea’s post-deal net debt to pro forma FY26e EBITDA is expected to remain conservative at 0.8x.

Settlement is currently targeted for on or around July 1.

However, finalisation remains subject to customary conditions, including securing vital regulatory clearance from the Australian Competition and Consumer Commission under Australia's new mandatory merger control regime.

At the time of reporting, Tasmea’s share price was $8.09.