Deal strengthens aggregates and concrete capacity across Eastern Seaboard
Sydney | March 2026-Heidelberg Materials has agreed to acquire the construction materials business of Maas Group Holdings in a transaction valued at AUD1.7 billion, significantly expanding its presence in Australia’s core eastern markets.
The binding agreement will see Heidelberg Materials Australia take control of a substantial portfolio of quarrying, concrete, asphalt and recycling assets across New South Wales, Queensland and Victoria.
Strategic Asset Expansion
The transaction includes:
- 40 quarries with combined reserves exceeding 350 million tonnes
- 22 ready-mixed concrete plants
- Two asphalt operations
- One recycling site
- Adjacent operational activities
Maas Group’s construction materials division employs more than 1,000 people and is recognised as a leading supplier of aggregates, ready-mixed concrete and asphalt in Eastern Australia.
The acquisition is designed to complement Heidelberg Materials’ existing footprint, enhancing aggregates capacity and strengthening downstream concrete and asphalt supply capabilities along Australia’s Eastern Seaboard.
Financial Framework and Synergies
The deal reflects a total enterprise value of AUD1.7 billion on a cash and debt-free basis. The purchase price implies an EBITDA multiple of 8.4× after synergies, based on expected pro forma EBITDA for the 12 months following completion.
Dr Dominik von Achten, Chairman of the Managing Board of Heidelberg Materials, described the acquisition as a strategic step aligned with the company’s disciplined portfolio optimisation approach and its “pure-play” focus as a global heavy building materials leader.
René Aldach, Chief Financial Officer of Heidelberg Materials and responsible for Australia, highlighted expected synergies and growth opportunities, noting that the acquisition will strengthen customer access to aggregates, asphalt and ready-mixed concrete while promoting circularity and sustainable production.
Regulatory Approvals Pending
The transaction remains subject to regulatory clearances, including approval from:
- Australian Competition and Consumer Commission
- Foreign Investment Review Board
Additionally, Maas Group shareholder approval and other customary closing conditions are required.
Subject to these approvals, completion is anticipated in the second half of 2026.
Strengthening Core Market Position
Australia represents a core market for Heidelberg Materials, driven by sustained infrastructure investment and urban development. The acquisition enhances vertical integration, improves logistics efficiency and expands high-quality reserves to support long-term construction demand.
Heidelberg Materials operates in around 50 countries with approximately 51,000 employees and nearly 3,000 locations worldwide. The company has positioned itself as a front runner in carbon neutrality and circular economy initiatives within the building materials industry.
