Perenti divests BTP Group for A$100m
Key points
- Perenti agrees to sell BTP Group to Beetle Industries for A$100m
- Initial cash payment of A$80m, deferred payment of A$20m
- Completion expected by end of October 2026
- Transaction aligns with Perenti's strategy to optimize portfolio
- Perenti to recognize A$64m non-cash loss in FY26
Full summary
Perenti Limited (ASX: PRN) has entered into a share sale agreement to divest its equipment rental and parts sales business, BTP, to Beetle Industries, an investment vehicle led by Cratus Group. The total consideration is A$100 million, comprising an initial cash payment of A$80 million and a deferred payment of A$20 million. The transaction aligns with Perenti's strategy to optimize its portfolio and allocate capital towards higher-returning opportunities. Perenti will recognize a non-cash loss of approximately A$64 million in its FY26 financial accounts. The sale proceeds will provide additional flexibility to recycle capital into higher-return opportunities.
Guidance
Perenti to recognize A$64m non-cash loss in FY26
Outlook
The divestment is expected to provide Perenti with additional flexibility to invest in higher-return opportunities.
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