• Enhances Saunders' offering in the water sector
• Provides secure, recurring revenue and earnings profile
• Significant work in hand and strong pipeline for future growth

Saunders International Limited (ASX: SND) has announced the acquisition of Aqua Metro Pty Ltd and associated entities for up to $30 million. Aqua Metro is a leading provider of design, engineering and project execution services in the water industry, with a broad Victorian reach and established long-term relationships with major utilities and government agencies. The acquisition enhances Saunders' offering in the water sector, providing secure and recurring revenue and earnings through Aqua Metro's long-term program and framework agreements. Aqua Metro forecasts revenue of $102 million and EBITDA of $8.2 million in FY2025, growing to $135 million revenue and $11 million EBITDA in FY2026. The transaction is expected to be earnings per share accretive from FY2026. Saunders will fund the acquisition through a combination of debt, equity placement, and cash reserves. Aqua Metro's management team and staff will remain in place to ensure business continuity and client relationships. The acquisition aligns with Saunders' growth strategy, strengthens its position as a multidisciplinary services provider, and provides significant cross-selling opportunities given the complementary service offerings.

Aqua Metro forecasts revenue of $102 million and EBITDA of $8.2 million in FY2025, growing to $135 million revenue and $11 million EBITDA in FY2026.

The acquisition is expected to be earnings per share accretive from FY2026 and provides Saunders with significant cross-selling opportunities given the complementary service offerings.