Acquisition History / NRW Holdings Limited / Fredon Industries Pty Ltd
NRW Holdings Limited Acquires Fredon Industries Pty Ltd
Announced September 2, 2025 — $132M
What happened
Fredon, established in 1968, is a leading national Australian provider of electrical, mechanical (HVAC), infrastructure, technology and maintenance services, with FY25 revenue of A$840M and normalised EBIT of A$38.6M. ASX-listed NRW Holdings executed a binding agreement to acquire 100% of Fredon for an enterprise value of up to A$200M on a debt-free cash-free basis, an implied 5.2x EV/EBIT, funded from existing debt facilities.
- Acquirer
- NRW Holdings Limited
- Target
- Fredon Industries Pty Ltd
- Announced
- September 2, 2025
- Price
- $132M
- Industry
- Electrical, mechanical (HVAC) and technology services
- Buyer type
- Strategic acquirer
- Status
- Announced, not yet closed
By the numbers
Frequently Asked Questions About This Acquisition
When did NRW Holdings Limited acquire Fredon Industries Pty Ltd?
NRW Holdings Limited acquired Fredon Industries Pty Ltd on September 2, 2025. This was NRW Holdings Limited's 1st publicly tracked acquisition out of 1 we have on record.
How much did NRW Holdings Limited pay for Fredon Industries Pty Ltd?
NRW Holdings Limited paid $132M for Fredon Industries Pty Ltd.
What does Fredon Industries Pty Ltd do?
Fredon, established in 1968, is a leading national Australian provider of electrical, mechanical (HVAC), infrastructure, technology and maintenance services, with FY25 revenue of A$840M and normalised EBIT of A$38.6M. ASX-listed NRW Holdings executed a binding agreement to acquire 100% of Fredon for an enterprise value of up to A$200M on a debt-free cash-free basis, an implied 5.2x EV/EBIT, funded from existing debt facilities.
What other Electrical, mechanical (HVAC) and technology services companies has NRW Holdings Limited acquired?
Fredon Industries Pty Ltd is NRW Holdings Limited's only publicly tracked acquisition in Electrical, mechanical (HVAC) and technology services so far.