Australian mining and civil contractor Macmahon Holdings says its A$75 million (US$53 million) acquisition of six-year-old Western Australian-based Aspect Engineering Solutions adds a “scalable engineering and minerals processing growth platform” to its $2.6 billion-a-year business.
ASX-listed Macmahon’s CEO Michael Finnegan said Aspect added to the group’s “drive to become a more comprehensive service provider across the mining value chain and to expand the engineering and minerals processing services we can provide to our clients”.
“Aspect brings a high-quality engineering and project delivery capability that is highly complementary to our existing surface mining, underground mining and civil infrastructure businesses.”
Macmahon is paying $30 million cash upfront and $30 million in retention-linked payments over five years, plus further performance-linked payments of up to $30 million, for Aspect, which says it has supported and delivered projects “from bespoke designs through to billion-dollar major projects”.
It is said to have about 300 employees and more than 50 active clients across resources, infrastructure and energy, with a circa-$67 million contracted backlog at the end of May this year and $75 million of revenue in the latest fiscal year. Macmahon is paying five-times Aspect’s $15 million of reported FY26 EBIT on the headline $75 million enterprise value of the target.
Macmahon said the acquisition supported its FY27–FY31 growth strategy by expanding its engineering capability and accelerating development of an engineering and mineral processing arm that could grow further through M&A.
Aspect’s Perth operations are supported by a licensed Vietnam engineering and support hub.
Macmahon’s share price has climbed more than 50% in the past six months, capitalising the company at about $2.1 billion.
