Aug 4, 2026 – 4.16pmWes Maas is throwing cash at early backers of the $15.5 billion Firmus Technologies, and Geoff Wilson’s Wilson Asset Management is the latest fund manager to grab a fistful.Wilson Asset Management portfolio manager Shaun Weick. Dominic LorrimerSarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Angira Bharadwaj is a co-editor of Street Talk. She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
WAM joins Regal in trimming Firmus stake as Maas Group loads up
WAM portfolio manager Shaun Weick made about five-times money on the sale, and told clients he expects Firmus’ IPO pricing to exceed $230 per share.
TL;DRAI
Maas Group is acquiring Firmus Technologies ($15.5B) equity from Wilson Asset Management and other early backers. The shift signals realistic valuations and stakeholder consolidation in late-stage AI infrastructure—a maturity marker for enterprise SaaS.
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