David Macgeorge
MD & Director
Thanks very a lot, and welcome, everybody, to the decision as we speak. I recognize folks bringing in to debate the acquisition of TAMS as we speak. It is a actually thrilling day for us as a enterprise. I do know there can be numerous TAMS folks on this name as we speak and actually wanting ahead to you becoming a member of the SRG International household and actually excited in regards to the future forward.
So who’re TAMS, let’s begin on Slide 1 with a little bit of an summary of TAMS. The enterprise, they’re end-to-end diversified marine infrastructure providers enterprise with full self-perform functionality. They have been round for greater than 25 years, 500 folks, 6 strategic shore bases and revenues of circa $200 million, EBITDA of $35 million and EBIT of $30 million. I believe most significantly, 90% of that income is from multiyear time period contracts and shoppers include $600 million work in hand, a $3 billion alternative pipeline. A terrific administration workforce have all include the take care of a protracted monitor file and business expertise and underpinned by a enterprise that is very capital gentle with CapEx circa 2% to three% of income.
If we transfer to Slide 2, which is the overview of the acquisition itself. Firstly, beginning with the transaction particulars. It is an $85 million acquisition on a cash-free, debt-free foundation. That is an implied acquisition a number of of two.7x EBITDA and three.2x EBIT. TAMS is predicted to ship circa $200 million on a professional forma foundation in FY ’26. It is vital to notice that, that’s on a full 12-month foundation. We’ll solely have TAMS for 8 months of this yr because it concludes on the thirty first of October.
