Simonds Group (ASX:SIO) will acquire Dennis Family Homes for an estimated consideration of AU$10 million, according to a Friday Australian bourse filing.
It entered into a binding agreement to acquire 100% of the issued capital of the residential home builder from DFC Services.
The deal is projected to be earnings accretive by the first quarter of fiscal 2026 and completion is expected to occur by early March. It is also expected to add AU$200 million in revenue.
The consideration will be paid in stages, with the first payment to occur on the date of the deal's completion.
Simonds Group's shares climbed 30% in recent Friday trade.
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