Acrow Limited (ASX: ACF) has successfully acquired Benchmark Scaffolding, effective March 1, 2024, expanding its industrial services. Benchmark, a leading provider of access solutions based in Townsville, serves North Queensland with a growing presence in Southeast Queensland. The AU$9.0 million acquisition, funded by cash, debt, and equity, includes upfront payment, equity issuance, and deferred payments. Earn-outs of approximately AU$1.0 million are contingent on future EBITDA performance.
This acquisition aligns with Acrow's strategic goal of national expansion in industrial services, enhancing its position in Queensland's industrial, mining, and infrastructure sectors. With a revenue of around AU$9 million and EBITDA of AU$2.4 million, the acquisition reinforces Acrow's growth trajectory, leading to an upgraded FY24 EBITDA guidance of AU$73 - AU$76 million. CEO Steven Boland expresses excitement, emphasizing the synergy and growth prospects of Benchmark within Acrow's portfolio.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
