Piper Alderman advises Symal Group on agreement to acquire 100% of the shares in Locale Civil Pty Ltd
26/08/2025
Piper Alderman, a national law firm, has advised its client, Symal Group Limited (ASX:SYL) (Symal), a diversified civil infrastructure and construction business, on its agreement to acquire 100% of Locale Civil Pty Ltd (Locale), a 50%-owned subsidiary of Power Network Services (PNS).
The transaction, valued at up to $35 million, comprises $29.3 million in upfront cash consideration and an additional $5.7 million earn-out, payable subject to Locale achieving its FY26 earnings target. Completion is expected in Q1 FY26, subject to a number of customary conditions precedent.
Locale provides civil infrastructure services across Victoria and holds a minimum six-year civil works agreement with PNS to deliver services for Powercor and CitiPower.
The Piper Alderman deal team comprised Partner James Hill and Associate Olivia De Angelis.
James and Olivia worked closely with Symal, advising on the negotiation of the original term sheet and share sale agreement.
Joe Bartolo, Managing Director of Symal Group, commented:
“The acquisition of Locale is a significant milestone for Symal and directly supports our strategic objectives of deepening our presence in specialised civils in the utilities sector. Symal is appreciative for the invaluable assistance provided by the Piper Alderman team during this acquisition. Their expertise and unwavering dedication were key to ensuring a smooth and successful process.”
This transaction reflects Piper Alderman’s strong track record in advising on complex acquisitions across the infrastructure and utilities sectors.
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