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Tasmea Limited (ASX:TEA)

ALERT: Price-sensitive ASX Announcement for TEA
Current share price for TEA : $8.500 3.42 (67.32%)+
Announcement
Release
19 Nov 2025 4:57PM
Price at Release
$5.080
Full Release
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Summary
Tasmea Limited has acquired WorkPac Group, a strategic move to bolster its capabilities in the growing Australian resources and infrastructure sectors. This acquisition allows Tasmea to integrate WorkPac’s sophisticated systems, such as ERP and payroll, which are expected to drive operational efficiencies and management improvements. The synergy between the companies will provide Tasmea with access to WorkPac’s extensive database of skilled workers, enabling faster deployment and mobilization of labor, crucial for meeting Australia’s skilled labor demands. Financially, the acquisition is forecasted to be earnings accretive, enhancing Tasmea’s financial performance with projected EPS growth and maintaining a healthy gearing ratio. Moreover, Tasmea will benefit from WorkPac’s strategic locations across Australia, facilitating expansion into key markets and supporting its subsidiaries in delivering specialized services at scale.
Key Points
  • Tasmea Limited has acquired WorkPac Group to enhance its operational and strategic capabilities, focusing on Australia's rising resources and infrastructure sectors.
  • The acquisition aims to integrate WorkPac’s advanced systems like ERP and workforce scheduling into Tasmea’s operations, enhancing efficiency and management capabilities.
  • The deal introduces new revenue and cost synergies through streamlined operations and cross-selling opportunities across Tasmea’s subsidiaries and WorkPac’s client base.
  • Tasmea will leverage WorkPac’s extensive database of over 1.5 million skilled workers to quickly source and deploy labor, addressing critical skilled labor shortages in Australia.
  • Financial projections post-acquisition include a 10% earnings per share accretion on a pro-forma FY26 basis and a gearing ratio forecast of ~0.5x.
  • WorkPac’s strategic geographical presence will support Tasmea’s expansion into growth markets, particularly in resource-heavy regions across Australia.
  • Tasmea plans to use WorkPac’s labor engine to deliver large volumes of skilled labor at competitive speeds, enhancing its service offering in electrical, mechanical, civil, and water & fluid sectors.
  • The acquisition is expected to be net cash positive due to the establishment of a non-recourse off-balance sheet receivables purchase facility.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.