SRG’s shares rose 5.61 per cent in afternoon trade as investors digested news of the WBHO transaction.

The company’s managing director David Macgeorge said WBHO’s blue-chip clients and its diverse operations - in transport, resources, water, agriculture, waste, renewables and aviation - were attractive to the firm.

“Acquiring WBHO Infrastructure will give SRG Global a competitive advantage by enhancing our capacity to deliver broader services to clients, [and] through the addition of 275 highly skilled engineering and operational personnel,” he said.

Administrator Matt Donnelly said Deloitte got support from employees, clients, sub-contractors and suppliers for the deal.

Sydney-based builder Roberts Co is running the ruler over most of Probuild’s Victorian assets and the rapid reboot of projects like CSL’s headquarters is likely to make an acquisition more attractive.