• Genus to acquire 100% of MPC Kinetic for up to A$400m
• Transaction expected to be highly earnings accretive
• Diversifies Genus into gas and water sectors
• MPK's existing management to continue post-acquisition
• Funding to be sourced from equity raise and existing debt facilities

Genusplus Group Ltd has announced its agreement to acquire 100% of MPC Kinetic Holdings Pty Ltd for a total consideration of up to A$400 million. This acquisition aims to strategically diversify Genus into the gas and water sectors, which are critical for Australia's energy security and transition. The transaction is expected to be highly earnings accretive and will leverage MPK's capabilities in pipelines and civil works, which are complementary to Genus' electrical capabilities. The acquisition is also expected to strengthen Genus' service offering and capability to cover a broader scope of works for end customers. MPK's existing management team, including the CEO and Key Management Personnel, will continue to manage the business, with all staff remaining employed under Genus. The transaction is expected to complete on 1 July 2026, subject to certain conditions precedent, including the completion of an equity raising of not less than A$200 million by Genus.

Genus expects FY26F normalised EBITDA of A$195m and normalised EBIT(A) of A$153m

The acquisition is expected to be highly earnings accretive and will strategically diversify Genus into the gas and water sectors, providing significant growth opportunities.