JANDAKOT: Tasmea Limited (ASX: TEA) announced Monday it has agreed to acquire Vertex Group, a specialist in high-voltage and portable power services, in a deal worth up to A$11.75 million ($7.8 million). The acquisition aims to strengthen Tasmea’s capabilities in the electrification industry.
The purchase includes Vertex Power & Process Pty Ltd and VTX Group Services Pty Ltd, which provide electrical and pumping solutions to mining, utilities and renewable energy sectors across regional Australia. The deal comprises an upfront payment of A$9 million ($6 million) in cash and shares, with an additional A$2.75 million ($1.8 million) contingent on performance targets over three years.
Vertex Group is projected to generate more than A$2.5 million ($1.7 million) in annual earnings under Tasmea’s ownership, driven by recurring revenue and cross-selling opportunities with existing clients. The acquisition is expected to boost Tasmea’s earnings per share by approximately 3%.
“Vertex and VTX are high-performing businesses with strong regional presence and long-term customer relationships,” said Stephen Young, managing director of Tasmea. “This partnership aligns with our strategy to expand in critical infrastructure sectors.”
Vertex’s founders, Dave Parker and Brent Carthew, will remain in leadership roles post-acquisition. The transaction is set to close in mid-to-late July 2025, pending final conditions.
Tasmea, headquartered in Jandakot, Western Australia, operates 24 trade-based service businesses across industries including mining, energy and telecommunications. Vertex Group will integrate into Tasmea’s electrical services segment, enhancing its high-voltage and portable power offerings.