Acrow Formwork and Construction Services Limited (ASX:ACF) agreed to acquire Ishebeck Formwork Panel System assets from HEINRICH Plant hire Pty Ltd for AUD 12 million on May 26, 2023. The transaction comprises an initial payment of AUD 6 million, with up to an additional AUD 6 million to be paid over two years contingent on the fulfillment of pre-conditions, relating to the delivery of contractual obligations including the achievement of minimum revenue targets. Transaction will be funded from will be funded through a combination of cash and debt.

Transaction is expected to Complete on June 1, 2023.