The slim pickings for initial public offerings in the first quarter of 2020 have some looking to the middle of the year for deals to emerge, and one of them is expected to involve the Maas Group.
It is understood that the Australian construction materials, equipment and services provider, which is run by founder Wes Maas, has its float plans slated for around June.
The business was slated for a float last year, but the deal was delayed as the company bedded down acquisitions and offered new forecasts to investors.
Working with the company on a potential float is Morgans and Moelis.
Last year, Maas followed Kohlberg Kravis Roberts with its Pepper Australia finance assets in pushing back its IPO until 2020.
Pepper is now visiting investors in Hong Kong in preparation for a listing in the months ahead.
Earlier, expectations were that Maas Group would be worth about $500m when it listed.
The business, based in Dubbo, was founded in 2003 by Mr Maas, a former South Sydney rugby league player who, according to the company’s website, started with one Bobcat and one tipper truck.
Since then he has grown the operation to one with at least 300 machines, a quarry business and a crushing and screening contract hire operation, as well as a commercial and residential property division.
Maas Group is focused on the growing civil, infrastructure and mining end markets.
The business operates throughout Australia, with a strong presence in regional areas.
It also has a growing international presence.
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