Service Stream to acquire RIE Group for up to $8m
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The news: Network services firm Service Stream has entered an agreement to acquire Queensland-based, high-voltage electrical and instrumentation contractor RIE Group.
The numbers: The deal includes an initial payment of $6.5 million, which is subject to purchase price adjustment based on the final net working capital position at completion. An additional $1.5 million may be paid if a minimum financial performance threshold for FY27 is exceeded.
RIE Group generates $13 million in revenue and employs between 60 and 120 people during peak outage periods.
The context: RIE Group operates across the industrial services sector across the Surat Basin, Darling Downs and Gladstone regions.
The transaction is expected to complete in or around August 2026.
What they said: “We are pleased to announce the acquisition of RIE and welcome their staff into the Service Stream business. The acquisition reflects a strategic addition to our growing utility operations at a time when the energy transition is providing increasing opportunities,” Service Stream managing director Leigh Mackender said.
“The expansion of capabilities across the industrial services sector reflects one of many growth areas being targeted as we look to continually expand the Group’s total addressable markets.”
The source: ASX
