India, May 25 -- Service Stream (SSM.AX), a network services company said Monday it has agreed to acquire Queensland-based high-voltage electrical and instrumentation firm, RIE Group, for an initial A$6.5 million, with potential additional payments of up to A$1.5 million.
RIE Group operates in the oil and gas, power generation and renewable sectors across the Surat Basin, Darling Downs and Gladstone regions.
The business generates revenue of about A$13 million a year and employs between 60 and 120 staff at peak periods.
The initial payment of A$6.5 million is subject to working capital adjustments at completion. Up to A$1.5 million more may be paid if RIE exceeds a minimum financial performance threshold for fiscal 2027.
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