Daily Roundup

Crimson Consulting Sweetens Kip McGrath Takeover Bid

Crimson Consulting Australia has upped the ante in its pursuit of Kip McGrath Education Centres, lifting its offer price from $0.73 to $0.75 per share. The move marks a significant shift in the company's board position—previously recommending rejection, Kip McGrath's directors have now swung behind the revised offer, urging shareholders to accept without delay. The sweetened bid represents a 66.7% premium to the company's last closing price, and Crimson has made the offer unconditional, removing any remaining conditions. As of the announcement, Crimson already holds 32.37% of Kip McGrath's shares. Shareholders have until October 19 to accept the offer, which can be done online or through a personalized acceptance form.

Southern Cross Electrical Engineering Bolsters Services Portfolio

In a strategic expansion move, Southern Cross Electrical Engineering (SXE) is acquiring Entire Operations Pty Ltd for up to $112.1 million. The deal includes $70 million upfront and up to $42.1 million in deferred payments based on future performance. Entire, a Melbourne-based specialist in fire protection and HVAC services established in 1985, is expected to add over $60 million in recurring maintenance and services revenue annually. The acquisition is anticipated to close on November 1, 2026, and should deliver at least 18% earnings per share accretion on a pro forma basis for FY27. SXE has also lifted its FY27 EBITDA guidance to at least $110 million, with Entire expected to contribute around $10 million of that figure. The move aligns with SXE's strategy to diversify geographically and expand into adjacent service disciplines.

GenusPlus Expands Telecommunications Reach in New Zealand

GenusPlus Group has announced the acquisition of Universal Communications Group Holdings (UCG) for NZ$38.25 million upfront, plus additional deferred and earn-out payments. UCG, founded in 2013, is a leading telecommunications construction and maintenance provider in New Zealand and the Pacific Islands, with a strong 10-year relationship with Chorus, the country's largest telecommunications infrastructure company. The deal is expected to complete by the end of October and should be immediately earnings accretive. GenusPlus sees the acquisition as a platform for further growth in the region, adding scale and capability to its telecommunications operations.

Stakk Accelerates Revenue Growth

Stakk Limited has reported impressive first-quarter results for FY2027, with pro-forma revenue jumping 16.5% to A$16.1 million. The company is now running at an annualized revenue pace of A$64.3 million, already surpassing its full-year FY2027 target of A$55.2 million. Remarkably, Stakk has already secured 100% of its FY2027 revenue target through recurring revenue under existing customer contracts. The growth has been fueled by major customer wins and cross-selling opportunities, particularly following the acquisition of ParaScript. Revenue has surged 151% since March 2025, and the company is eyeing continued momentum into FY2028 with an expanding customer pipeline.

Cobre Takes Control of Chilean Copper Project

Cobre Ltd has exercised its Control Call Option to acquire majority ownership of the Sierra Atacama copper project, increasing its stake to 62.86% for approximately US$12 million. The move elevates Cobre Chile to majority and controlling shareholder status, entitling it to appoint an additional director to the project's boards. With three of five board seats now under its control, Cobre gains the economic and governance authority to guide the project through its next phase of expansion and exploration.