Tasmea (ASX:TEA) has finalized a share purchase agreement to acquire Vertex Group, an electrical services company specializing in high voltage solutions. The acquisition, anticipated to be completed by late July 2025, encompasses Vertex Power & Process and VTX Group Services. The deal is structured with a combination of cash reserves, existing finance facilities, issuance of Tasmea scrip, and deferred earn-out payments sourced from Vertex Group’s future cash flows. Vertex founders Dave Parker and Brent Carthew will remain in leadership roles.
The purchase includes an upfront payment of $6.5 million in cash and $2.5 million in Tasmea shares (714,286 escrowed shares at $3.50 per share), along with potential earn-out payments of up to $2.75 million over FY26-FY28, contingent on Vertex achieving agreed EBIT targets. Tasmea anticipates the acquisition will be accretive to earnings per share by approximately 3%. Vertex’s expertise in high voltage services, particularly for utilities, mining, and renewables clients across regional areas, aligns with Tasmea’s strategy of acquiring high-quality, trade-based businesses.
Vertex and VTX will be integrated into Tasmea’s Electrical Services Segment, offering enhanced capabilities in high voltage services and portable energy solutions. Tasmea emphasizes the expansion of its regional footprint and deepened expertise in servicing energy infrastructure and remote area projects. The company aims to leverage Vertex’s strong customer relationships across the mining, renewable energy, utilities, industrial, and local government sectors to enhance its service offerings.
