SYDNEY – Australian infrastructure firm Symphal Group said on Wednesday it has agreed to buy two Queensland-based civil contracting and haulage businesses for A$28 million ($18.5 million), aiming to capture a wave of pre-Olympics construction in the state.
Symphal will acquire the assets of Timms Group and L&D Contracting via an upfront cash payment from its reserves, with further earn-outs tied to performance. The deal includes more than A$28 million in plant and equipment and is expected to close in the third quarter of fiscal 2026.
The acquisitions will give Symphal an integrated platform in Queensland with forecast annual EBITDA of about A$8 million from fiscal 2026, making the deal earnings per share accretive in its first year, the company said.
“With Brisbane entering a major infrastructure growth phase, driven by the 2032 Olympics, population growth and record investment… this acquisition provides Symphal with a platform for long-term growth,” Managing Director Joe Bartolo said in a statement.
The move expands Symphal’s contracting, haulage and materials repurposing services in a region that is poised for significant infrastructure spending ahead of the Brisbane 2032 Olympic Games.