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Tasmea Limited (ASX:TEA)

ALERT: Price-sensitive ASX Announcement for TEA
Current share price for TEA : $9.480 0.45 (4.98%)+
Announcement
Release
24 Jun 2026 8:52AM
Price at Release
$9.030
Full Release
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Summary
Tasmea Limited is set to acquire JPS Group, consisting of JPS Management & Execution Pty Ltd and Safe Isolation Australia Pty Ltd, for up to A$75 million. The acquisition is structured with an upfront payment of A$50 million and potential earn-outs based on achieving certain EBIT targets from FY27 to FY30. Funded through a mix of cash, debt, and Tasmea scrip, this acquisition is aimed at diversifying Tasmea’s earnings into the energy sector. JPS Group is recognized for its strong presence in the Australian LNG market, providing integrated operations and maintenance services to Tier-1 clients. The acquisition is anticipated to be EPS accretive, with a forecast post-deal leverage of 0.85x net debt to EBITDA. The strategic move also positions Tasmea for growth in international markets such as the USA and Africa, leveraging JPS's existing client relationships to cross-sell its specialist services.
Key Points
  • Tasmea Limited is acquiring 100% of JPS Holdings Pty Ltd, including JPS Management & Execution Pty Ltd and Safe Isolation Australia Pty Ltd.
  • The total consideration for the acquisition is approximately A$75 million.
  • The acquisition is funded through a combination of cash and Tasmea scrip, with earn-out payments contingent on hitting specific financial milestones.
  • The acquisition aims to diversify Tasmea's earnings into the energy sector and enhance its service offering.
  • JPS Group has a proven track record with Tier-1 energy clients and specializes in operations, maintenance, shutdowns, and project execution across Australian LNG assets.
  • The acquisition is expected to be immediately earnings per share (EPS) accretive, with forecasted post-deal leverage of approximately 0.85x net debt to pro forma FY26e EBITDA.
  • JPS Group's earnings are expected to grow, driven by organic growth and synergies with Tasmea's existing operations.
  • JPS Group is strategically positioned for growth in international markets, including the USA and Africa.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.