GenusPlus Group (ASX:GNP), a national provider of essential power and communications infrastructure, has completed the acquisition of MGC Group Holdings (WA).
Announced under a share purchase agreement on April 3, the acquisition marks GenusPlus’ strategic entry into the high-growth rail systems sector.
Through MGC, the company will now offer specialised, safety-critical rail services, including overhead line equipment, signalling, and electrical and communications systems, to Tier 1 clients across metropolitan, mining, and freight sectors in Western Australia.
The acquisition, funded through internal cash reserves, is expected to be immediately earnings accretive and complements GenusPlus’ existing service divisions.