Daily Roundup

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Vysarn is making a bold move into the water management space with its acquisition of Welltech, a deal valued at $60 million. The company will pay $50 million upfront—comprising $37.25 million in cash plus $12.75 million in shares—with an additional $10 million in deferred payments over three years, contingent on Welltech hitting certain EBITDA targets. To fund the transaction, Vysarn is raising $65.3 million through a share placement of 62.2 million new shares at $1.05 each. The deal is expected to close in September 2026 and looks financially attractive, with the acquisition forecast to deliver over 37% earnings per share accretion and contribute $33.2 million in revenue and $14 million in EBITDA on a pro forma FY26 basis.

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Duratec is riding high on a wave of contract wins, securing approximately $70 million in new work across energy, marine, and mining sectors. The standout award is a construction management contract at Orica's Hunter Valley Hydrogen Hub, signaling the company's strategic push into future energy infrastructure. The engineering and remediation specialist also landed contracts for Perth Airport's Jet Fuel Expansion Program, a wharf infrastructure remediation project for Fremantle Ports, and remediation works for Rio Tinto at Gove. These wins underscore growing demand for Duratec's specialized capabilities and position the company well in key growth markets.

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DroneShield is firing on multiple cylinders with a $23.2 million contract win from a European military customer, the launch of its third-generation RF detection engine, and an upbeat trading update. The contracts involve vehicle-mountable counter-drone solutions, including hardware, subscriptions, and services. The company's new RfAI-3 detection engine is designed to enhance situational awareness in complex threat environments. Looking ahead, DroneShield expects FY2026 revenue to land between $250 million and $270 million—a 15% to 25% jump from the prior year—with a blended gross margin around 65%, bolstered by next-generation hardware launches and growing subscription revenue.

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Develop Global delivered a blockbuster quarter with record revenue of A$147 million, more than doubling from the previous quarter. The Woodlawn copper-zinc mine hit record production with a 47% increase in copper-equivalent output. The company also made Final Investment Decisions on two major projects: the Yitirrti copper-silver-zinc operation and the Pioneer Dome lithium project, with first sales expected in December and production commencing in June 2028. To fund these ambitious plans, Develop Global secured a A$570 million debt facility and warrant package with Trafigura. On the cash front, the company generated $30.6 million in net operating cash flow during the quarter and held $122.6 million in cash at quarter end, with total financing facilities of $607.8 million available.

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WEB Travel Group is signaling confidence in its financial strength with a $90 million on-market share buy-back and solid guidance for the first half of 2027. The company expects WebBeds' transaction value margin to reach approximately 6.7%, up from 6.5% in the prior-year period, while revenue is forecast to grow 11% to 15%. Group underlying EBITDA is on track to land between A$80 million and A$86 million despite currency headwinds. The buy-back, which will be funded from existing cash reserves and commence in August 2026, reflects management's optimism about the business trajectory and shareholder value creation.