Maximus Completes Divestiture of Australia and South Korea in Outside the U.S. Segment
10 Dezember 2024 - 2:00PM
Business Wire
Maximus (NYSE: MMS), a leading provider of government services,
announced today it completed the divestiture of all operations in
Australia and South Korea, which were reported under the Outside
the U.S. segment. The purchaser, Angus Knight, is a global provider
of employment, education and training, health and wellbeing, and
community services with operations in seven countries.
Primarily based around employment services, Maximus has operated
in Australia since 2002 and in South Korea since 2020. With the
transaction, over 1,200 employees are joining Angus Knight to
enable a seamless transition of operations for the respective
government customers. This sale follows prior divestitures of
Maximus’ employment services operations in Sweden, Italy,
Singapore, and Canada.
“This transaction has been a management priority and we
appreciate the immense effort by all stakeholders involved,
including Angus Knight, who has proven to be an excellent partner
as they welcome more of our former colleagues,” said Bruce Caswell,
President and Chief Executive Officer. “This is a significant
milestone in our commitment to optimize the Outside the U.S.
portfolio and improve its alignment with the broader Maximus
strategy.”
The combined annual revenue run-rate for the two entities under
Maximus was approximately $120 million, while the estimated impact
to fiscal year 2025 revenue guidance is approximately $100 million.
The transaction is estimated to be slightly accretive to fiscal
year 2025 adjusted EBITDA margin and adjusted diluted EPS guidance,
which exclude anticipated divestiture-related charges largely
related to non-cash realized foreign exchange losses. For the full
fiscal year 2025, the margin outlook improves for Outside the U.S.
segment to between 3% and 5%.
About Maximus
As a leading strategic partner to government, Maximus helps
improve the delivery of public services amid complex technology,
health, economic, environmental, and social challenges. With a deep
understanding of program service delivery, acute insights that
achieve operational excellence, and an extensive awareness of the
needs of the people being served, our employees advance the
critical missions of our partners. Maximus delivers innovative
business process management, impactful consulting services, and
technology solutions that provide improved outcomes for the public
and higher levels of productivity and efficiency of
government-sponsored programs. For more information, visit
maximus.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20241210050031/en/
Investor Relations James Francis Jessica Batt
IR@maximus.com
Media & Public Relations Eileen Rivera
media@maximus.com
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