This acquisition aligns with HEG's overarching diversification strategy, demonstrating the company's commitment to expanding its operational footprint and customer base. HEG CEO, Ajay Anand, expressed enthusiasm about the acquisition, highlighting its potential to bring new regional locations, a broader customer portfolio, and access to a talented pool of professionals into the HEG Group.

Anand stated, "We are delighted to welcome the skilled staff from A E Smith to the HEG team. This acquisition not only enhances our capabilities but also strengthens our position in the market. By gaining a foothold in the Hawkes Bay region, we are opening up new opportunities for our Group companies to establish themselves in this area, thereby further boosting the Group's overall earnings."

The acquisition is anticipated to be a pivotal step in HEG's continued growth and diversification efforts, reinforcing its commitment to providing exceptional services to clients across diverse regions. HEG looks forward to the successful integration of A E Smith into Aquaheat New Zealand Limited and Aquaheat Facility Services Limited, further building upon its position as a key operator in the infrastructure services sector.