Tasmea (ASX:TEA) struck a deal to acquire specialist electrical contractor Maxim Group Australia for up to AU$254 million, according to a Tuesday filing with the Australian bourse.

The consideration includes about AU$112 million of upfront cash, AU$72 million in Tasmea scrip with 12 million new shares issued to vendors at AU$6 each, and cash earn-out payments of up to AU$70 million based on profitability milestones, per the filing.

Tasmea expects the deal to be immediately accretive to earnings per share, estimating about 31% pro forma EPS accretion in fiscal 2026 excluding synergies and assuming 12-month ownership of Maxim.

The company said Maxim has an identified pipeline in excess of AU$1.3 billion, which provided full revenue visibility for fiscal 2027 and about 85% revenue visibility for fiscal 2028.

Tasmea reconfirmed its fiscal 2026 guidance for underlying net profit after tax of AU$72.5 million. The company said Maxim will contribute to fiscal 2027 earnings after the deal's expected closing around July 1.

Shares of Tasmea jumped 17% in recent Tuesday trade and earlier hit an all-time high.