Heidelberg Materials Australia has announced its acquisition of Maas Group Holdings' construction materials business for AUD 1.7 billion, aiming to enhance its footprint and product offerings in the Australian market.

Target Information

Heidelberg Materials Australia has reached a binding agreement to acquire the construction materials division of Maas Group Holdings, a diversified industrial group publicly listed on the Australian Securities Exchange (ASX). This business is strategically located across New South Wales, Queensland, and Victoria, employing over 1,000 personnel. The acquisition comprises a significant portfolio, including 40 quarries with combined reserves exceeding 350 million tonnes, 22 ready-mixed concrete plants, two asphalt operations, and a recycling site.

The move is aimed at enhancing Heidelberg Materials' existing market presence in Australia, by further enriching their high-quality product offerings in the Eastern region. The transaction places a total enterprise value at AUD 1.7 billion on a cash and debt-free basis, projecting an EBITDA multiple of 8.4× after anticipated synergies based on the estimated proforma EBITDA for the upcoming twelve months post-completion.

Industry Overview in Australia

The construction materials industry in Australia is a pivotal sector, driven by ongoing infrastructure projects and a growing demand for residential and commercial construction. With strong state support and investment in public infrastructure, this industry has