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Maas Group (ASX:MGH), a diversified construction and materials business, has re-rated as fund managers see value in its strategic options. In September 2026, Bell Asset Management highlighted Maas Group, whose shares jumped nearly 50% over 12 months. Wilson Asset Management believes the market under-appreciates the strategic optionality created by the $1.7 billion sale of its construction materials business, and Regal built a substantial position. Cerutty sees Maas as one of the most compelling ASX exposures to the build-out of Australian data centres and infrastructure. Maas Group operates in the Industrials sector within the Construction and Engineering industry, and Thesis Tracker has captured 32 comments from 14 fund managers, including Bell, Wilson Asset Management, Regal and Cerutty. Founded in 2002 by Wes Maas and headquartered in Dubbo, New South Wales, Maas Group operates civil construction, equipment hire, residential real estate and manufacturing businesses across regional Australia.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Ausbil Investment Management, QVG Capital, Wilson Asset Management, Tyndall Asset Management, Akambo, SG Hiscock & Company, Pengana Capital Group, Centennial Asset Management, Ellerston Capital, Maple-Brown Abbott, Quest Asset Partners, Regal Funds Management, Firetrail Investments, Cerutty Macro Fund, Bell Asset Management, Tamim Funds Management, Laser Beam Capital and Datt Capital have invested in Maas Group Holdings Ltd (ASX:MGH).
Managers highlight the $1.7 billion sale of the construction materials business creating strategic optionality and balance sheet capacity, exposure to data centre and infrastructure build-outs and a strong share price re-rating, according to Wilson, Cerutty and Bell.
Wilson notes Maas was affected by market volatility, and the business remains exposed to construction and residential development cycles in regional Australia.
MAAS Group Holdings Ltd. is an Australian-based company founded in 2002, specializing in construction materials and equipment. Headquartered in Dubbo, the firm operates across six key segments: Residential Real Estate, Commercial Real Estate, Civil, Construction & Hire, Manufacturing, Construction Materials, and Other. Services include land development, commercial construction, infrastructure projects, and the manufacture of underground mining and construction equipment. The business also provides quarrying, geotechnical, and electrical services. This diversified business model supports end-to-end delivery of civil and commercial infrastructure, property development, and industrial project requirements.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.