Maas Group tips $300M more into AI factory builder Firmus, lifts guidance
What's the deal? Construction firm Maas GroupDealroom has a profile for this one. Try Dealroom → is buying $300 million of shares in AI factory builder Firmus at $230 apiece, increasing its stake in the business.
The numbers: The purchase leaves Maas Group with just over 1 million shares and 1.1 million preference shares in Firmus, taking total spending to $410 million for a 3.2% stake. Alongside the deal, Maas raised its FY26 underlying EBITDA guidance to $300 million–$310 million, which includes a fair value uplift on its earlier Firmus investment.
What's the endgame? Maas has also secured new electrical infrastructure work worth $855 million to support Firmus' AI factory roll-out, to be delivered over the next 18 months. It expects full-year operating EBITDA from continuing businesses of $130 million–$135 million, in line with earlier guidance.
What they said: "The Firmus investment is creating substantial value and supports our long-term strategy to participate in the development and delivery of digital infrastructure assets," said chief executive officer Wes Maas.
Why now? Maas is tying its capital to Firmus' proposed 3.3GW Australian AI factory roll-out, with Maas pointing to "a significant tender pipeline" that should generate further work.
Read more: Capital Brief
Image credit: North Charleston
