SHAPE Australia announced that several liquidity options are being investigated, including an Initial Public Offering, or a full or potential sale to a Strategic or Financial Buyer.
Following several unsolicited approaches, SHAPE’s Board of Directors and its major shareholders have appointed financial services firm Moelis Australia to help herald a new era to support management’s growth initiatives, strengthen the Company’s market-leading position by taking advantage of a disrupted market, and create future career opportunities for SHAPE’s people.
SHAPE has become a national success story, with a presence in all mainland states and territories and has enjoyed a consistent track record of sustained profitability and financial growth over 30 years. It was awarded five Master Builders Association awards in 2019 for its work across several industries, including high-profile commercial fit-outs and refurbishments in hospitality and office environments, and a State Library of NSW restoration project.
”We are proud of how the business has grown after its inception during the recession of the late 1980s,” said Gerard McMahon, one of the Founders and a Non-Executive Director. “We built the business on a philosophy of delivering superior customer outcomes by attracting and retaining the best people in the industry. We have developed an organisational culture that ranks in the top ten per cent of companies globally, and it drives our industry-leading performance metrics. We have had a number of professional investors on our share register over our thirty years in business, and these experiences have always been beneficial to SHAPE’s growth and development.”
Non-Executive Chairman of Directors, Phil Arnall said, “SHAPE has maintained strong financial performance for 30 straight years by taking the best parts of a public company model. SHAPE has an independent Board of Directors, strong risk management principles, and executed a carefully planned expansion which resulted in it becoming the only company in its market to have a national footprint. The Company is well-positioned to capture identified growth opportunities and support financial initiatives that would maintain an attractive dividend stream for investors.”
SHAPE CEO, Peter Marix-Evans says he is excited about what the future holds. “While it is not a test you would voluntarily take, the pandemic has been an examination of our resilience. Despite the COVID-19 pandemic, our opportunity pipeline and conversions are strong, as is our cash and debt-free position. It appears that in times like this, the company’s large base of repeat customers values our great team of people and service-centric approach more than ever.”