Service Stream to Acquire RIE Group
Key points
- Service Stream to acquire RIE Group
- Initial payment of $6.5 million
- Additional payment of up to $1.5 million
- Transaction expected to complete in August 2026
Full summary
Service Stream Limited (ASX: SSM) has announced its agreement to acquire RIE Group, a specialized high-voltage electrical and instrumentation business operating across oil and gas, power generation, and renewable sectors. The acquisition aligns with Service Stream's strategy to grow and diversify its business. RIE generates approximately $13 million in revenue and employs between 60-120 employees. Service Stream will make an initial payment of $6.5 million, subject to adjustments based on final net working capital. An additional cash consideration of up to $1.5 million may be paid if financial performance thresholds are exceeded. The transaction is expected to complete in or around August 2026.
Guidance
Initial payment $6.5 million, additional payment up to $1.5 million
Outlook
The acquisition is expected to enhance Service Stream's capabilities, expand geographical presence, and establish strong relationships with blue-chip asset owners.
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