Daily Roundup

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Steadfast Group has provided an update on its ongoing takeover discussions, with a notable addition to the bidding consortium. KKR has joined Amwins and Dragoneer as a co-lead investment partner in the potential acquisition of Steadfast's retail brokerage business. The Steadfast Board received KKR's commitment on 8 July, though the company emphasizes that this expanded partnership doesn't change the transaction timeline. Still, there's no binding agreement in place yet, meaning shareholders shouldn't expect certainty around whether this proposal will actually result in a deal. Trading in Steadfast shares was paused ahead of the announcement, with the company flagging further updates to come.

GR Engineering Services has landed a substantial contract worth $229 million for the Tower Hill Gold Project in Western Australia. The engineering, procurement, and construction agreement with Genesis Minerals marks a solid win for the services provider, which has already begun engineering work and procurement of long lead items. What makes this particularly interesting is the potential synergy from Genesis's proposed acquisition of Vault Minerals—the combined entity could process ore through an existing process plant rather than building a new one, which could optimize costs and timelines. GR Engineering expects no adverse impact on its FY2026 results, and management remains upbeat about its pipeline heading into FY2027.

Over in the gaming space, Playside Studios is celebrating a major milestone with MOUSE: P.I. For Hire. The indie detective game has now surpassed 1 million unit sales across all platforms since launch, generating estimated gross platform sales of US$28.7 million—with approximately US$17.6 million flowing to PlaySide as net revenue. The game has been a hit with players, maintaining a 94% review score on Steam and a "Very Positive" rating. Recent features in Steam's Summer Sale and the rollout of physical copies at major retailers globally have helped drive momentum. The studio is now working on paid downloadable content and planning to capitalize on future sales events.

SKS Technologies Group has secured $28 million in early works for MEL2, a hyperscale data centre being developed in Melbourne's northwest. The contract covers substation work, internal fit-out, and installation of high and low voltage infrastructure. The facility is expected to deliver over 354MW of capacity as part of a broader $5 billion investment program. This win is particularly significant for SKS, as it represents repeat business and a stepping stone to larger contracts in the booming data centre market. The early works engagement will boost SKS's order book to $312 million as it enters FY27—a sevenfold increase since June 2023. Looking ahead, the company anticipates more than doubling its capacity from 1.4GW in 2025 to 3.2GW by 2030.

Mcpherson's Limited has released a trading update that signals a tougher year ahead. The consumer goods company expects FY26 revenue between $115.0 million and $120.0 million, down from $139.0 million in FY25. Underlying EBITDA is estimated at just $4.0 million to $4.5 million, compared to $7.3 million previously. The company is taking non-cash intangible asset impairments of $15.0 million to $20.0 million, reflecting underperformance relative to plan. Net cash has also declined to an expected $4.5 million from $8.8 million. Management attributes the weakness to transition challenges and market conditions, and hints that variability in sales performance may persist as the company navigates its new operating model. Full audited results are scheduled for 27 August.