Monadelphous to Acquire Perth-Based High Energy Service Generating $30M Revenue
Monadelphous Group Limited has agreed to acquire Perth-based High Energy Service for $21.5 million, bolstering its footprint in high voltage electrical services and supporting Australia's energy transition.
- Monadelphous to acquire High Energy Service for $21.5 million
- HES generates over $30 million annually and employs 100+ staff
- Acquisition supports energy infrastructure and transition strategy
- Transaction expected to complete by July 2025
- Monadelphous expands capabilities in high voltage electrical services
Strategic Acquisition in Energy Services
Monadelphous Group Limited (ASX:MND), a leading Australian engineering firm, has announced an agreement to acquire High Energy Service (HES), a Perth-based specialist in high voltage electrical services. The deal, valued at approximately AUD 21.5 million subject to customary adjustments, is expected to complete by July 2025.
HES is a well-established player in the high voltage maintenance, testing, and commissioning sector, primarily servicing major resources and electricity generation projects across Western Australia. The company employs over 100 personnel and generates more than AUD 30 million in annual revenue, making it a significant addition to Monadelphous’ Maintenance and Industrial Services division.
Enhancing Energy Infrastructure Capabilities
This acquisition aligns closely with Monadelphous’ strategic objective to expand its capabilities in energy infrastructure, particularly in support of Australia’s energy storage and transition initiatives. As the country accelerates its shift towards renewable energy and modernises its electricity networks, the demand for specialised high voltage services is expected to grow.
By integrating HES’s expertise and workforce, Monadelphous aims to strengthen its service offerings in electrical maintenance and capital works, positioning itself as a key partner in the evolving energy landscape. The move also complements Monadelphous’ existing engineering construction and maintenance services, creating potential synergies across its project portfolio.
Financial and Market Implications
The purchase price of $21.5 million reflects a strategic investment in a high-growth segment of the energy services market. While detailed financial terms beyond the purchase price have not been disclosed, the acquisition is expected to contribute positively to Monadelphous’ revenue streams once integrated.
Market observers will be watching closely for how Monadelphous manages the integration process and leverages HES’s capabilities to capture new contracts, especially in Western Australia’s resource-rich environment. The acquisition also signals Monadelphous’ commitment to supporting the infrastructure critical to Australia’s energy transition, a theme increasingly important to investors and regulators alike.
Looking Ahead
With over 50 years of experience and a broad geographic footprint including offices in Australia and the Asia-Pacific region, Monadelphous is well-positioned to capitalise on emerging opportunities in energy and resources sectors. The addition of High Energy Service enhances its competitive edge in high voltage electrical services, a niche but vital component of modern energy infrastructure.
As the transaction moves toward completion, stakeholders will be keen to see how this acquisition shapes Monadelphous’ growth trajectory and its role in Australia’s energy future.
Bottom Line?
Monadelphous’ acquisition of High Energy Service marks a decisive step in expanding its energy infrastructure capabilities amid Australia’s accelerating energy transition.
Questions in the middle?
- How will Monadelphous integrate High Energy Service’s operations and workforce?
- What impact will the acquisition have on Monadelphous’ near-term financial performance?
- Which new projects or contracts might Monadelphous pursue leveraging HES’s expertise?
