Service Stream to acquire Programmed

Service Stream enters into agreement to acquire Programmed

Service Stream is pleased to announce that it has entered into an agreement to acquire Programmed, a leading infrastructure services, facility management and staffing business operating across Australia and New Zealand. 

The business generates approximately A$3.7 billion in revenue annually providing integrated facility management, property services, industrial maintenance and resourcing services. Programmed directly employs about 6,600 people and has access to approximately 8,000 contractors.

Service Stream Managing Director, Leigh Mackender, said “the acquisition establishes Service Stream as a leading ANZ multi-network services business with market leading capabilities to support critical infrastructure across broad sectors. It marks Service Stream’s entry into New Zealand and expansion into new and in-demand markets across Australia.

The acquisition of Programmed marks a significant and exciting milestone in Service Stream’s journey, bringing together two businesses with highly complementary capabilities and supporting significant and sustainable value creation in support of our clients and shareholders.  

In line with our stated strategy, the combination enhances Service Stream’s ability to deliver integrated end-to-end capabilities, significantly expands Service Stream’s total addressable markets across a long-held client base operating across growing end-markets, and supports earnings resilience.”

Service Stream will be partially funding the A$975 million purchase price through an expansion of our existing facilities and a fully underwritten equity raise which launches on Monday 9 November. Information on specific offers will be communicated by Computershare. 

Subject to conditions, Service Stream anticipates completing the transaction on 1 March 2027.