GenusPlus Group – MPC Kinetic

GenusPlus Group Limited (**Genus**) proposes to acquire 100% of the issued shares in MPC Kinetic Holdings Pty Ltd (**MPK**) through a Share Purchase Agreement. Genus is an ASX-listed specialist power and communications infrastructure and services provider operating across Australia. Genus designs, builds and maintains electrical transmission and distribution networks, substations, rail and battery systems. Genus’ business is split into three key divisions: 1. Infrastructure: designs, builds, and maintains high-voltage transmission and distribution networks (both overhead and underground), substations (terminal and zone), primary customer connections, and rail systems. Genus services electricity utilities, transmission operators, miners, and governments across metropolitan, regional, and remote Australia. 2. Energy and engineering: offers engineering, design, and procurement and construction solutions for electrical balance of plant (**EBoP**) services across communications and energy assets, with a focus on electrical systems such as Battery Energy Storage Systems (**BESS**) as well as grid integration. 3. Services: constructs and maintains fixed and wireless communication networks (including nbn fibre and Telstra contracts), provides asset management and upgrade services for power utilities, delivers vegetation management for powerline corridors, and operates digital workforce management platforms. MPK provides specialised infrastructure and maintenance services to the energy and resources sectors in Australia and New Zealand. MPK operates through three core business units: 1. Energy Infrastructure: installs gas gathering systems (civil infrastructure, pipeline and facilities installation and well head connection). 2. Renewables: civil balance of plant (**CBoP**) construction for onshore wind farms, civil construction (bulk earthworks and concrete works) for BESS, and mining civils (environmental earthworks and civil projects). 3. Energy Services: down-well maintenance and production supporting service lines - workover emissions reduction technology, integrity monitoring, well intervention services and well servicing. MPK also offers formulation and manufacturing of production chemicals in the oil and gas sector. While both parties supply services that may be used by renewables projects, Genus specialises in the supply of EBoP services while MPK specialises in the supply of CBoP services. These are fundamentally different services, requiring different capabilities and skillsets. While MPK has some capability to supply some of the EBoP services (electrical reticulation and installation works) it does not presently supply any of these services. Other services offered by Genus (e.g. telecommunication services, rail systems operations) and MPK (e.g. energy services in the gas industry) are non-overlapping and are not supplied in related industries to the operations of the other party.

Status

Assessment completed

ACCC determination

Approved

Stage

Waiver application

Notified

19 May 2026

Determination published

9 June 2026

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