SYDNEY — SHAPE Australia Corporation Limited (ASX: SHA) announced Wednesday it has entered into a binding agreement to acquire the business and assets of Arden Group, a national retail fitout and facilities maintenance specialist, for an upfront payment of $25 million.
The acquisition, expected to complete by Dec. 31, 2025, includes two additional contingent earn-out payments totaling up to $7 million if Arden meets specific profit targets over the next two years. The deal implies a multiple of approximately 4.0 times Arden’s forecast FY26 EBITDA of $6.2 million.
SHAPE CEO Peter Marix-Evans said the acquisition supports the company’s growth and diversification strategy. “Arden’s expertise in retail multi-site fitout and facilities maintenance, areas that SHAPE has not traditionally focused on, will enable us to expand our market share across Australia,” he said.
Arden, which has been operating for 23 years, provides fitout and facilities maintenance services to blue-chip clients such as Officeworks, Ampol, Coles, and BP. The company employs around 80 staff across offices in Sydney, Melbourne, Brisbane, Adelaide, and Perth.
The existing Arden management team, including founding directors Alan Maden and Richard Pitcher, will continue to lead day-to-day operations for at least two years post-acquisition.
SHAPE expects the deal to be earnings accretive in its first full year, with projected earnings per share accretion of 10% to 14%. The transaction will be funded through a combination of cash and debt.
SHAPE will host an investor webinar later Wednesday to discuss the acquisition.
