ASX-listed group’s bolt-on deal expands its footprint in supply chain and warehousing labour hire, with completion expected this month and funding from Westpac.
Ashley Services Group (ASX: ASH) has agreed to acquire the external labour hire customer contracts, relationships and associated workforce of a major logistics company, through its subsidiary Action Workforce Pty Limited.
The deal
The customer book generated revenue of $162 million in the year to 31 March 2026, according to Ashley Services’ announcement. The purchase price is structured as 1 per cent of sales received from transferring customers over the first two years post-completion, payable in cash across two annual instalments in arrears.
Completion is expected in July 2026. The company says the acquisition is anticipated to be earnings-per-share accretive in the financial year ending 30 June 2027, and will be funded through cash flow and bank financing provided by Westpac.
Strategic rationale
Ashley Services managing director Ross Shrimpton said the additional customers, in the group’s core supply chain, warehousing and logistics labour hire sector, would strengthen its business offering, noting the expansion brings experienced staff and an existing operational workforce.
Australian angle
The deal adds to a run of bolt-on labour hire acquisitions by the Sydney-headquartered group, which has built out its logistics and industrial staffing arms through a series of similar transactions in recent years. It comes as Australian job ad volumes have continued a gradual downward trend through the first half of 2026, according to Seek data, intensifying competition among labour hire providers for large-account customer books.
Sources
Ashley Services Group to acquire logistics labour hire business, Staffing Industry Analysts: https://www.staffingindustry.com/news/global-daily-news/ashley-services-group-to-acquire-logistics-labour-hire-business
Ashley Services Group Acquires $162 Million Labour Hire Book, Kalkine Media: https://kalkine.com.au/news/announcements/ashley-services-group-acquires-162-million-labour-hire-book-from-major-logistics-company-via-action-workforce
Seek job ads slip 4.5% in May as hiring falls in most parts of Australia, Staffing Industry Analysts: https://www.staffingindustry.com/news/global-daily-news/seek-job-ads-slip-45-in-may-as-hiring-falls-in-most-parts-of-australia
