HEIDELBERG Materials Australia have signed a binding agreement to acquire Maas Group Holdings’ construction materials business, which operates across New South Wales, Queensland, and Victoria and employs over 1,000 people.

The deal includes 40 quarries with over 350

million tonnes of combined reserves, 22 ready-mixed concrete plants, two asphalt operations, a recycling site, and related activities. The transaction carries a total enterprise value of AUD

1.7

billion on a cash- and debt-free basis, reflecting an implied EBITDA multiple of 8.4× after synergies based on projected proforma EBITDA for the 12 months following completion.

‘This acquisition is part of our growth focus combined with a disciplined approach to continuously optimize our portfolio,’ said Dr Dominik von Achten, chairman of the managing board of Heidelberg Materials. ‘We are taking a significant step to expand our business in Australia, focusing on further improving our aggregates capacity and concrete supply capabilities in a core market. This reflects our commitment to a pure-play strategy as a leading global heavy building materials company in the industry.’

René Aldach, chief financial officer of Heidelberg Materials and responsible for Australia, added: ‘With this acquisition, we will enhance our position in Australia, driving further growth and promoting circularity. We are complementing our market presence in attractive regions while leveraging substantial synergies. Our growing base of customers along the Eastern Seaboard will particularly benefit from an expanding network of aggregates, asphalt, and ready-mixed concrete sites delivering high-quality, sustainable products.’

The transaction is subject to regulatory approvals, including from the Australian Competition and Consumer Commission and the Foreign Investment Review Board, as well as customary conditions such as Maas Group shareholder approval. Subject to approval and satisfaction of these conditions, completion is expected in the second half of 2026.

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