Symal Group (ASX:SYL) signed a AU$28 million agreement to acquire the assets of Queensland-based civil contracting and haulage companies Timms Group and L&D Contracting, according to a Wednesday filing with the Australian bourse.

The transactions will be funded through existing cash reserves, with completion expected in the third quarter of fiscal 2026, the filing said.

The combined acquisition is expected to deliver annualized underlying earnings before interest, taxes, depreciation, and amortization of AU$8 million in fiscal 2026, per the filing. It is also expected to be accretive to earnings per share in the first year of ownership.

Symal Group shares rose past 5% in morning trade Wednesday, hitting an all-time high.