Samsung C&T has acquired a majority stake in Australian electrical engineering, procurement, and construction (EPC) contractor Powertech in a deal valued at approximately AUD 100 million (USD$70 million). The transaction surfaced via the Australian Financial Review’s Street Talk column, the quasi-clearinghouse for Australian corporate dealmaking that often runs ahead of formal market disclosures.
Citing sales documentation from advisor PwC, the report notes Powertech is forecast to generate AUD 115 million in FY26 revenue and AUD 8.9 million in EBITDA, valuing the buyout at roughly 11.2x EBITDA. Management will retain a minority stake.
Operating across Western Australia, Queensland, the Northern Territory, and Singapore, Powertech employs 300 engineers and technicians. The firm specializes in utility-scale BESS, switchyards, and more.
While an energy transition and data-center focused play, the acquisition also serves as vertical integration for Samsung C&T’s Australian battery energy storage system (BESS) operations, and one that has been seen in Australia and across the globe. Quanta Services acquired Cupertino Electric back in 2024 in a similar play for $1.5B, with aims of simplifying projects and offering “full-wrap” EPC accountability.
The developer arm of Samsung in the country, known as Samsung C&T Renewable Energy Australia, is advancing a multi-gigawatt proprietary BESS pipeline across New South Wales and Victoria, led by the 200 MW/800 MWh Darnum and the 100 MW / 400 MWh Mangoplah BESS. It also received approval for the South Coree project, a 80 MW / 320 MWh BESS, last month.
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