• Symal acquires 100% of Shamrock Civil for $51.0 million upfront
• Shamrock has over 30 years of experience and a workforce of 200
• Acquisition expected to be EPS accretive in Symal's first full year

Symal Group Limited has entered into a conditional agreement to acquire 100% of Shamrock Civil, a leading defence and resources contractor headquartered in Queensland. Shamrock, established over 30 years ago, employs over 200 people and has an annual revenue of approximately $220 million, with more than $100 million coming from defence. The acquisition is expected to significantly scale Symal's defence platform and establish a strong position in resources, aligning with the national defence budget and infrastructure spending. Shamrock's founders will remain to lead day-to-day operations. The upfront payment of $51.0 million comprises $40.8 million in cash and $10.2 million in SYL shares, with potential earn-outs based on FY26 and FY27 EBITDA performance. The acquisition is expected to be earnings per share accretive in Symal's first full year of ownership.

Annualised underlying EBITDA of approximately $16 million in FY26; expected to be EPS accretive

The acquisition positions Symal to leverage the national defence investment expansion and capitalize on the broader resources and infrastructure booms.