SRG Global (ASX:SRG) agreed to acquire all of the issued shares in Total AMS and its subsidiaries for AU$85 million on a cash-free, debt-free basis and normal level of working capital, according to a Tuesday filing with the Australian bourse.

The company will fund the acquisition through AU$57.3 million in cash and available debt facilities, AU$27.7 million in shares, and a two-year earn-out opportunity, the filing said.

Completion of the transaction is expected to occur by Oct. 31, per the filing.

Shares rose nearly 21% in morning trade on Tuesday and earlier reached an all-time high.