Congratulations to GenusPlus Group (ASX: GNP) on their acquisition of MGC Group Holdings (WA) Pty Ltd for an upfront cash consideration of A$10.25m and contingent earn-out payments of up to A$10.5m subject to achieving strong growth targets in CY25 to CY27.

MGC is a WA-based specialised provider of safety critical rail systems including overhead line equipment (OLE), signalling, electrical and communications to Tier 1 customers across Metro Mining and Freight sectors providing Genus a strategic entry into the Rail sector which has significant growth potential.

For the acquisition, Sternship Advisers acted as corporate adviser and Gilbert + Tobin acted as legal adviser to Genus.