King & Wood Mallesons (KWM) has advised Heidelberg Materials Australia on its proposed acquisition of the construction materials business of Maas Group Holdings Limited (MGH) for a total cash consideration of around $1.7 billion.
The transaction will be implemented by way of a Share Sale Deed and includes up to $120 million in contingent consideration linked to agreed post-completion performance milestones.
The acquisition comprises a large-scale, integrated portfolio of construction materials assets, including 40 quarries with combined reserves in excess of 350 million tonnes, 22 concrete plants, two asphalt operations and a recycling facility.
The KWM team was led by Partner Adrian Perkins, supported by a multidisciplinary team including Jovana Zelenbaba, Jack O’Brien, Naren Iyer, Jennifer Barron, Lisa Huett, Joe McQuillen, David Bell, Frankie Giorlando, Tracey Jordan, Brett Feltham, Judith Taylor and Jim Zovaro.
Commenting on the deal, Partner Adrian Perkins said:
“The acquisition reflects Heidelberg Materials Australia’s focus on delivering consistent, high-quality products and services across Eastern Australia. Maas’ strong regional footprint and operational capability complement Heidelberg Materials’ business, and we were pleased to advise on a transaction that supports the continued delivery of sustainable construction materials.”
Completion of the transaction is expected in the second half of 2026.
