MELBOURNE: FOS Capital Limited (ASX: FOS) has acquired specialist lighting design consultancy Glowing Structures in a deal valued at $700,000, the company announced Tuesday.
The transaction, finalized May 5, includes an initial $200,000 cash payment, followed by an additional $200,000 in six months. The remaining $300,000 will be issued in FOS ordinary shares at 31 cents per share, escrowed for 18 months.
Melbourne-based Glowing Structures, founded in 2007, provides design services and technical advice across multiple industries, including education, hospitality, and retail. In fiscal 2024, the consultancy reported $1.3 million in sales and $300,000 in EBITDA.
Glowing Structures’ founder and managing director, Adam De Guara, will remain with the company under a three-year agreement and will become a key shareholder in FOS Capital.
FOS Managing Director Con Scrinis said the acquisition expands the company’s presence in the lighting services industry, noting an opportunity to drive sales of FOS’s manufactured and distributed lighting products.
“We see a significant opportunity to convert a high percentage of Glowing Structures’ sales specifications into sales of market-leading lighting products FOS already manufactures and distributes,” Scrinis said in a statement. “We look forward to welcoming Adam and the team.”
All conditions for the acquisition have been met, with shares expected to be issued by May 12.