Wedoany.com Report-Apr 4, SSH Group, an Australian industrial services provider, has recently entered into a non-binding term sheet to potentially acquire Total Contract Mining (TCM). This move aims to expand its mining services capabilities and strengthen its position in the Australian resources sector.

The proposed acquisition will add two key executives, Kevin Malaxos and Sam Baker, from TCM.

The acquisition follows SSH Group’s strategic efforts to enhance its mining services offerings. These include expanding its Mining Services vertical, restructuring business units for better scale and synergy, and focusing on delivering comprehensive turnkey mining solutions.

The deal is subject to standard conditions such as due diligence, key personnel agreements, and board approvals. It is expected that the due diligence process and the finalization of the agreement will take place within four weeks from the signing date. During this period, TCM has agreed to exclusively negotiate with SSH Group and avoid engaging with other potential buyers.

SSH Group’s Managing Director, Daniel Cowley-Cooper, emphasized the significance of this transaction, stating, “The signing of this non-binding term sheet for the potential acquisition of Total Contract Mining represents another significant step in our strategy to grow our Mining Services division. This opportunity, combined with recent progress in securing key agreements and advancing sector discussions, positions SSH Group for potential substantial growth in the Australian resources industry. This move is designed to create value, deliver scale, and build resilience in SSH’s operating model.”

The proposed acquisition involves the addition of two key executives, Kevin Malaxos and Sam Baker, from TCM. Malaxos is reportedly under consideration for a non-executive director position on the SSH Group board. The financial details of the potential acquisition are still to be finalized and will be determined during the due diligence process.

SSH Group and TCM are collaborating to establish a consideration structure that may include a mix of cash and SSH securities. This arrangement is intended to link the transaction to performance milestones and ensure post-acquisition alignment between the two entities.

In addition, in February 2025, Pure Resources entered into a non-binding heads of agreement with SSH Group to accelerate the development of the Reedy Creek Garnet Project in Western Australia. This project underscores the growing collaboration between SSH Group and other stakeholders in the resources sector.

This strategic move highlights SSH Group’s commitment to expanding its influence in the Australian resources industry, leveraging partnerships and operational efficiencies to drive growth and deliver value.