Tasmea Shares Climb 5.2% to $11.05 as Acquisition-Fueled Growth Story Drives Stock Up 135% in a Single Year

SYDNEY — Shares of Tasmea Ltd. rose more than 5% on Monday, extending a remarkable run that has made the Perth-based industrial services company one of the best-performing stocks on the Australian market over the past year.

Tasmea shares gained 0.545 Australian dollars, or 5.19%, to A$11.045 during Monday's session. The stock traded between A$10.67 and A$11.08, with about 48,000 shares changing hands. The company's market value stood at about A$3.1 billion.

The shares are up 135% over the past 12 months.

It was not immediately clear whether the company had released new information to the market. The gain came as the broader S&P/ASX 200 index rose about 0.7% by midday.

A programmatic acquisition strategy

Tasmea provides specialist services to sectors including mining, energy, infrastructure and defense, with businesses spanning electrical, civil and mechanical work as well as workforce solutions. The company listed on the ASX in April 2024.

Its rapid growth has been driven by what it describes as a "programmatic" acquisition strategy, buying owner-led specialist businesses and integrating them into the wider group.

In December 2025, Tasmea completed the acquisition of WorkPac Group, a major workforce solutions provider. In June, it announced a deal to buy Victorian electrical contractor Maxim Group for up to A$254 million, sending its shares up sharply. The acquisition was completed on July 1.

"The acquisition of Maxim Group is a defining step in Tasmea's programmatic growth strategy," Managing Director Stephen Young said when the deal was announced.

Later in June, Tasmea agreed to acquire JPS Group, a business serving the energy sector, for up to A$75 million. That deal was completed in August and is expected to help the company expand into markets including the United States and Africa.

The company has said further acquisition opportunities are under negotiation.

Record results and higher guidance

Tasmea reported record results for fiscal 2026 in late August. Underlying earnings before interest and taxes rose 54% to A$118.1 million, while underlying net profit increased 42% to A$73.7 million, both ahead of guidance.

Its electrical division's earnings rose 33% to A$50.2 million, while its civil division's earnings jumped 81% to A$32 million.

The company also upgraded its outlook for fiscal 2027, forecasting underlying earnings before interest, taxes and amortization of A$205 million to A$210 million and underlying net profit before amortization of A$130 million to A$133 million. The guidance reflects full contributions from recently acquired businesses.

Tasmea has maintained a conservative balance sheet despite its deal-making, with net debt at about 0.4 times pro forma earnings before interest, taxes, depreciation and amortization at the end of the financial year.

Shareholder returns

The company has a final dividend scheduled for payment on Oct. 30. Its executive directors have reinvested more than A$50 million into Tasmea shares since the company's listing, a commitment management has highlighted as evidence of confidence in the strategy.

Risks ahead

Acquisition-led growth carries risks, including the challenge of integrating new businesses, retaining key staff and avoiding overpaying for deals. Tasmea's share price has also risen sharply, raising the bar for future performance.

Still, investors have so far rewarded the company's ability to deliver earnings growth ahead of expectations, and Monday's gains suggest confidence in its strategy remains strong.