SRG Global (ASX:SRG) Announces Completion of TAMS Acquisition
Company: SRG Global Limited
ASX Code: SRG
Sector: Infrastructure Services
Market Cap: A$1.68 billion (as of October 2025)
Employees: 5,000+ across diversified operations
SRG Global (ASX:SRG) has finalised its acquisition of TAMS Group through the issue of 13,948,705 new fully paid ordinary shares. This investor update confirms the successful SRG Global TAMS acquisition, a key development for the company’s presence in Australia’s infrastructure services market.
The all-scrip transaction, announced on 14 October 2025, was officially completed on 31 October 2025. The issue of consideration shares was executed in full compliance with the Corporations Act, strengthening SRG Global’s capabilities across its Maintenance & Industrial Services and Engineering & Construction divisions.
Transaction Details
The completion of this major infrastructure acquisition marks a significant milestone in the company’s expansion. The transaction was settled entirely through the issue of shares, preserving cash reserves for operational activities.
Key Transaction Metrics:
- Total Consideration Shares: 13,948,705 fully paid ordinary shares
- Transaction Structure: All-scrip deal
- Completion Timeline: 17 days (14 October to 31 October 2025)
- Regulatory Framework: Compliant with Corporations Act section 708A(5)(e)
- Total Shares on Issue: 612,643,517 following completion
The move expands SRG Global’s workforce, which already includes over 5,000 employees, positioning the company to compete for larger-scale contracts. Management reiterated its focus on ‘Making the Complex Simple’, with this acquisition enhancing its service delivery and technical capabilities.
What does the TAMS acquisition mean for SRG shareholders?
The completion of the SRG Global TAMS acquisition has immediate and long-term implications for shareholders, impacting the ownership structure and the company’s market positioning.
Immediate Shareholder Impact:
- Share Dilution: The issue of nearly 13.95 million new shares increases the total shares on issue to approximately 612.64 million.
- Dilution Percentage: This results in a dilution of approximately 2.28% for existing shareholders.
- Asset Base: Shareholders now have exposure to TAMS’ established infrastructure services operations and client portfolio.
While existing shareholders will own a proportionally smaller stake in the expanded entity, they gain an interest in a larger, more diversified business with an enhanced asset base and broader client relationships. The company’s market capitalisation remains substantial at A$1.68 billion post-transaction.
| Impact Category | Shareholder Consideration | Expected Timeline |
|---|---|---|
| Ownership Structure | Dilution of 2.28% from 13.95M new shares | Immediate |
| Revenue Base | Integration of TAMS operations | 3-6 months |
| Market Position | Enhanced competitive standing | 6-12 months |
| Synergy Realisation | Cost savings and efficiencies | 12-18 months |
How will SRG Global integrate TAMS operations?
The integration of TAMS’ operations into SRG Global’s existing framework is a critical next step. The process will focus on aligning personnel, systems, and client management to realise the full value of the acquisition.
Operational Integration Plan:
- Workforce Alignment: Combining TAMS personnel with SRG Global’s existing 5,000+ employee base.
- Systems Harmonisation: Merging operational procedures and technology platforms to ensure consistent service delivery.
- Client Relationship Management: A focus on retaining and expanding existing TAMS client relationships across industrial sectors.
- Service Portfolio Optimisation: Combining capabilities across maintenance and construction to deliver end-to-end solutions.
The combined entity will offer clients a more extensive suite of services across the entire asset lifecycle, from engineering and construction to ongoing maintenance. This approach addresses growing industry demand for integrated service providers, particularly for clients seeking single-source accountability on large projects.
What are the growth prospects after the TAMS acquisition?
The SRG Global TAMS acquisition is expected to create several growth opportunities by expanding the company’s market reach and service capabilities. By combining SRG Global’s engineering and construction strengths with TAMS’ specialised maintenance expertise, the company is better positioned to secure larger and more complex projects.
Key growth drivers include:
- Expanded Service Offering: The ability to provide integrated, end-to-end solutions across an asset’s lifecycle is expected to be a key competitive advantage.
- Cross-Selling Opportunities: The company can now offer TAMS’ maintenance services to SRG Global’s existing construction clients, and vice-versa, creating new revenue streams.
- Increased Bidding Power: With a larger scale and a broader skillset, SRG Global can now bid for Tier-1 contracts that were previously unattainable.
- Operational Synergies: The integration is anticipated to yield cost efficiencies through shared resources, optimised supply chains, and streamlined administrative functions, potentially improving margins over the long term.
This move strengthens SRG Global’s position within its core operating segments—Maintenance & Industrial Services and Engineering & Construction—providing a more balanced and resilient business model.
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