Herbert Smith Freehills Kramer advises MAAS Group Holdings on sale of Construction Materials division for A$1.7bn

Herbert Smith Freehills Kramer (HSF Kramer) is advising MAAS Group Holdings Limited (Maas Group) on the proposed sale of its Construction Materials (CM) division to Heidelberg Materials Australia (HMA) for cash consideration of up to A$1.703 billion. This includes A$120 million in contingent cash consideration linked to certain post-completion milestones. As part of the transaction, certain freehold land will also be retained by Maas Group and leased to HMA under long-term commercial lease arrangements.

Maas Group is a leading independent Australian construction materials, equipment, and service provider, with diversified exposures across the civil, infrastructure, renewable energy, AI data centre, mining and real estate end markets. 

If implemented, the sale will enable Maas Group to redeploy capital in new infrastructure investment, including digital infrastructure, electrification, and AI-enabled assets. 

The HSF Kramer Corporate team was led by partner Nicole Pedler, with support from Senior Associate Marijana Banovac, and solicitors Arda Reznikas, Josephine Fenn, Benjamin Hansen and Ryan Chan. Partner Liza Carver led the competition aspects, with support from senior associate Elizabeth Hersey and solicitor Jorgia Findanis. Partner Luke Simpson led the property aspects, with support from senior associates Michelle Gosling and Jess Burstow and solicitor Irene Hartley. Partners Kwok Tang (TMT) and Michael Gonski, Nicholas Ogilvie and senior associate Alfie Bright (Employment) also assisted with the transaction.  

Nicole Pedler said, “We are proud to be working with the Maas team on this transaction, which will allow the organisation to progress its strategy and prime itself for future growth.”

This transaction is another example of HSF Kramer’s market-leading work in Australian M&A. Other recent examples include advising: 

• Energy Fuels, Inc. on its proposed acquisition of Australian Strategic Materials Limited
• Ramsay Health Care on its proposed A$251 million acquisition of National Capital Private Hospital
• BlackRock on its acquisition of StoreLocal
• AGL on the sale of its stake in Tilt Renewables for A$750 million
• Sayona Mining on its proposed $850m all-stock merger with Piedmont Lithium Inc and institutional placements
• Kinetic and its management team on the sale of a majority take to TPG
• Apiam Animal Health on its acquisition by Adamantem Capital
• One Investment Management on its proposed A$3.3 billion acquisition of Insignia Financial as part of a consortium including CC Capital
• Dropsuite on its A$420 million acquisition by NinjaOne
• MA Financial on its acquisition of specialist real estate investment manager IP Generation
• Chemist Warehouse on its A$34 billion merger with Sigma Healthcare
• Weir on its A$1.35 billion (£657 million) acquisition of mining software provider, Micromine
• The Carlyle Group Inc. on its acquisition of Waste Services Group
• Healius Limited on the sale of Lumus Imaging to Affinity Equity Partners for A$965 million