Processing timeline
21
days
Acquirer(s)
TASMEA LIMITED ABN - 22 088 588 425
Target(s) or Vendor(s)
JPS HOLDINGS PTY LTD ABN - 50 661 247 178
Other parties
JPS Management & Execution Pty Ltd, Safe Isolation Australia Pty Ltd
Tasmea Limited, a diversified trade-skill services group for mining, resources, power and water, will acquire 100% of the issued share capital of JPS Holdings Pty Ltd. JPS Holdings provides integrated operations and project execution services, including skilled specialists and isolation technology, to the Australian oil and gas sector.
Tasmea Limited (ASX: TEA) ( Tasmea ) is an Australian diversified specialist trade‑skill services group. It owns and operates 26 specialised subsidiaries that provide maintenance, shutdown, breakdown and brownfield upgrade services to fixed plant for essential asset owners, across electrical, mechanical, civil and water & fluid trade streams, predominantly for mining and resources, power & renewables and water customers. JPS Holdings Pty Ltd ( JPS Holdings ) is a Brisbane-headquartered integrated operations and project execution services provider to the Australian oil and gas sector. Through JPS Management & Execution Pty Ltd, it embeds skilled specialists (operators, engineers and project specialists) directly into operators’ teams to deliver operational support, shutdown and campaign execution, specialist project execution, and integrated nitrogen delivery, across onshore, offshore and Floating Liquefied Natural Gas facilities. Through Safe Isolation Australia Pty Ltd, the sole Australian agent for the DBB Saver isolation technology, JPS Holdings enables safe maintenance downstream of passing valves while an oil and gas plant remains online. Pursuant to a Share Purchase Agreement, Tasmea will acquire 100% of the issued share capital of JPS Holdings (together with its subsidiaries) on a cash-free, debt-free basis (the Acquisition ).