Multiplex Finds Its "Forever Home"

McMahon also carried news that had reached Multiplex clients only days earlier: the firm, principal partner to the Forum, is being acquired by Japan's Obayashi Group, one of the largest construction contractors in the world. "This acquisition marks a major milestone in Multiplex's 64-plus year history," he said, describing a combined group reaching across nineteen countries.

His message for clients echoed the company's formal word. "It is, however, business as usual at Multiplex," he said, "albeit with overwhelming synergies and new opportunities with the Obayashi Group into the future."

The scale of the new parent is considerable. With more than 130 years of experience and turnover of around US$17.5 billion, Obayashi will make Multiplex its largest subsidiary, at roughly fifteen per cent of its global business, with no change to its people, operations or brand. In correspondence to The Asian Executive's Rick Wong, Regional Managing Director Ross Snowball noted that Brookfield had been a supportive owner for nineteen years, and that Multiplex had now secured its "forever home" within the Obayashi Group.

Subject to customary conditions, the deal is expected to close in the fourth quarter of 2026. For McMahon, the takeaway was simpler. "I would suggest that takes a round of applause."