Monadelphous Group Limited (ASX:MND) entered into an agreement to acquire Melchor Contracting for AUD 10 million on October 2, 2023. Under the terms, Monadelphous will make an initial cash payment followed by a purchase price adjustment in accordance with the final working capital position at completion. Melchor Contracting generates revenues of AUD 100 million.

The transaction is expected to be completed in the first half of the current financial year.