Heidelberg Materials is expanding its reach across NSW, Queensland and Victoria with a recent acquisition
Heidelberg Materials Australia has entered into a binding agreement to acquire the construction materials business of Maas Group Holdings, a diversified industrial group listed on the Australian Securities Exchange.
Established in 2002 by Wes Maas with one Bobcat and a tipper truck, Maas’s construction materials business is now operating across New South Wales, Queensland and Victoria and employs over 1,000 people.
The transaction includes 40 quarries with combined reserves of over 350 million tonnes, 22 ready-mixed concrete plants, two asphalt operations, a recycling site as well as adjacent activities.
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The transaction is structured as a share deal, reflecting a total enterprise value of $1.7 billion.
“The acquisition of Maas’ construction materials division reflects our ongoing commitment to delivering consistent, high-quality products and services to customers across Eastern Australia,” HMA CEO Phil Schacht says.
“Maas’ strong reputation and regional expertise complement our business, and we’re looking forward to welcoming the team as we continue delivering reliable sustainable materials to our customers.”