News and Media
Tasmea Limited is pleased to announce that it has entered into a conditonal share purchase agreement to acquire 100% of the issued capital in WorkPac Group Pty Ltd and associated entities, a leading provider of workforce solutions in Australia. The conditions precedent are typical for a transaction of this type.
The acquisition represents a strategic step in Tasmea’s growth, strengthening its client service offering across Australia, with its new Workforce Solutions segment including WorkPac providing an enabler to fuel Tasmea’s organic growth agenda of its Electrical, Mechanical, Civil and Water & Fluid specialist operating segments.
Strategic Rationale
This highly strategic acquisition of WorkPac strengthens Tasmea’s position as a leading multi-disciplinary specialist trade skilled services provider and will assist in the delivery of Tasmea’s 15% per annum organic growth target and long-term specialist labour strategy.
- Providing skilled labour certainty for Tasmea Customers
WorkPac’s advanced recruitment capability and labour engine, along with Tasmea’s specialist portfolio provides us the ability to fulfil customers’ skilled labour needs at Speed & Scale, a competitive edge in the market - Labour engine
Under new Workforce Solutions segment supporting Tasmea’s specialist trade services portfolio to rapidly source, mobilise, and deploy large numbers of specialist qualified personnel – strengthening our capability to execute time-critical large-scale shutdowns and complex projects through our four operating segments - Synergies
Strong synergies identified including revenue synergies, operational synergies and cost synergies - Strategic growth
Strategic grrowth in previously under-served regions with strong industry WorkPac adds greater than 15 material Master Services Agreements (MSA’s) to Tasmea’s portfolio and a highly skilled management team with ‘skin-in-the-game’, committed and excited about the growth opportunities of joining Tasmea and assisting Tasmea’s resourcing endeavours for the increasing demands for its specialist trade skills services
Commenting on the acquisition, Tasmea’s Managing Director, Stephen Young said:
“This transaction reflects our disciplined approach to growth and our commitment to building a diversified, scalable platform across Australia. WorkPac has an excellent reputation and a strong customer base that complements our existing operations. Furthermore, we are excited about Workpac’s ability to recruit specialist trade skilled workers for our specialist trade services subsidiaries and creating certainty for our customers in our ability to assist them with the forecast trade skills shortages in the industries in which we operate. We look forward to welcoming the WorkPac team to the Tasmea family.”
Commenting on the acquisition, WorkPac’s Managing Director, Hamish Griffin said:
“WorkPac is incredibly excited about the future with Tasmea. WorkPac continues to deliver strongly for our customers, underpinned by our scale and our proven ability to reliably secure the workforce required to keep their operations and projects moving. This capability consistently provides a significant uplift in delivery performance and drives stronger commercial outcomes for the clients we support.
We will now extend this same advantage to Tasmea, opening up secure critical labour-supply channels that strengthen their ability to meet growing demand. Through this partnership, WorkPac will continue supporting exceptional results for both our clients and Tasmea’s clients, while ensuring that WorkPac and our people share directly in the value we help create.”
Next Steps
Completion of the transaction is anticipated on or around 1 December 2025, subject to satisfaction of conditions precedent, typical for a transaction of this type.
For further information, please contact:
Stephen Young Managing Director
Tasmea Limited
+61 (08) 8212 2929
syoung@tasmea.com.au