Acrow to Acquire Industrial Access, Construction Services Firms for AU$55 Million

MT Newswires Live
Jun 18

Acrow (ASX:ACF) agreed to acquire Ausgroup Industrial Services and Preston SuperDeck for AU$54.5 million in total, according to a Thursday filing with the Australian bourse.

The company will acquire industrial services provider Ausgroup for an enterprise value of AU$27 million plus AU$2.5 million of capital expenditure, comprising cash consideration of about AU$22.8 million and scrip consideration of about AU$6.8 million.

Preston SuperDeck, a retractable loading platform business, will be acquired for upfront cash consideration of AU$25 million.

The deals are expected to deliver mid-single digit earnings per share accretion on an underlying, pro-forma basis, Acrow said.

To finance the purchases, the company launched a fully-underwritten, dual-tranche placement to raise about AU$70 million through the issuance of 82.4 million new shares at AU$0.85 each. The first tranche is an unconditional placement of about 39 million shares to generate roughly AU$33.1 million, while the second tranche of about 43.4 million shares will aim to raise AU$36.9 million, subject to shareholder approval.

Acrow will also undertake a share purchase plan targeting gross proceeds of up to AU$10 million at the same price as the placement.

Additionally, the company increased the mid-point of its fiscal 2026 revenue guidance range by about 4%, and now expects revenue to come in between AU$330 million and AU$335 million. It also foresees fiscal 2026 underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) to be toward the lower end of its AU$80 million to AU$81 million outlook range.

Assuming Preston SuperDeck is consolidated from July 1 and Ausgroup from Aug. 1, Acrow expects fiscal 2027 revenue to be between AU$405 million and AU$425 million, up from previous guidance of AU$335 million to AU$350 million. It also issued post-acquisition fiscal 2027 underlying EBITDA guidance of AU$102 million to AU$112 million, up from a previous range of AU$88 million to AU$98 million.

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