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Tasmea Ltd. ( (AU:TEA) ) has issued an update.
Tasmea Ltd. has announced a conditional agreement to acquire WorkPac Group Pty Ltd, a leading workforce solutions provider in Australia, for up to $60.7 million. This acquisition is a strategic move to strengthen Tasmea’s position in the market by enhancing its ability to source and deploy skilled labor, which is expected to support its 15% annual organic growth target. The transaction is anticipated to be earnings per share accretive and will be funded through existing cash reserves and equity issuance. The acquisition will also provide Tasmea with access to WorkPac’s advanced recruitment capabilities, enabling it to meet growing demand and secure critical labor supply channels, thus enhancing its operational efficiency and market competitiveness.
The most recent analyst rating on (AU:TEA) stock is a Buy with a A$6.00 price target. To see the full list of analyst forecasts on Tasmea Ltd. stock, see the AU:TEA Stock Forecast page.
More about Tasmea Ltd.
Tasmea Ltd. operates as a multi-disciplinary specialist trade skilled services provider, focusing on electrical, mechanical, civil, and water & fluid sectors. The company aims to enhance its client service offerings across Australia, leveraging strategic acquisitions to fuel its growth agenda.
Average Trading Volume: 443,584
Technical Sentiment Signal: Buy
Current Market Cap: A$1.35B
For detailed information about TEA stock, go to TipRanks’ Stock Analysis page.