Monarch Surveyors to Acquire 100% Stake in Australian Entity GM & FE Ryan Pty Ltd
Monarch Surveyors and Engineering Consultants Ltd (formerly Monarch Surveyors & Engineering Consultants Pvt. Ltd.) announced that its Board of Directors gave authority to execute a binding agreement for the acquisition of 100% of the equity share capital of GM & FE Ryan Pty Ltd (ACN 085 586 910), a company incorporated under the laws of Australia.The acquisition is contingent upon the satisfactory completion of due diligence across legal, financial, regulatory (including FIRB), tax, operational, commercial, assets, property, and technical domains, as well as receiving requisite regulatory approvals.
Details of the Acquired Entity
The target entity is GMREngineering Services (GMREngineering Services Unit Trust, ABN: 83 408 901 287), managed through its Trustee GM & FE Ryan Pty Ltd (ACN: 085 586 910). The operations are based at 164 Maude Street, Shepparton, Victoria 3630, Australia, and employ 12 full-time employees.The financial details provided for the acquired business are as follows:
| Metric | Details |
|---|---|
| Annual Revenue (FY2025 actual) | AUD $1.8 million |
| 3-Year Average Revenue | AUD $1.6 million |
| FY2026 Forecast | AUD $2.2 million |
| Total Invoicing Since 2005 | ~AUD $24.5M across ~8,200 invoices and ~2,500 projects |
| Asset Status | Debt-free with 100% owned assets valued at approximately AUD $310,700 |
The services offered by the entity fall under Engineering Consulting and Land Surveying, encompassing civil & structural engineering, land surveying, drone/UAV surveying, GIS & asset management, water engineering, environmental engineering, sustainability/ESD services, and project management.
Strategic Impact and Transaction Details
Monarch stated that this acquisition is strategically significant as it enables the company's entry into the Australian engineering market. The business focus of the acquired entity—land surveying, engineering design, drone services, and geospatial solutions—is noted as being directly within Monarch's main line of business as stated in its Memorandum of Association (MOA), and not outside of it.The acquisition is expected to provide several advantages, including immediate access to 7 Australian Government procurement panels, an estimated ~80% client retention rate, a 20-year operating track record, and 12 qualified FTEs alongside AUD $310,700 in owned technology assets. Expected revenue impact is projected at AUD $1.76M - $1.84M in FY2026, with potential growth to AUD $2.14M - $3.22M by FY2030 across three growth scenarios.
The transaction is structured entirely as a cash consideration, with no share swap, deferred equity, or convertible instruments involved.
The total acquisition consideration at settlement is AUD $1,810,000. This comprises:
1. Enterprise Value (Business Goodwill): AUD $1,500,000, payable on Settlement (May 22, 2026).
2. Plant & Equipment: AUD $310,000, payable on Settlement, subject to independent valuation.
3. Purchase Deposit (1% of EV): AUD $15,000, payable within 7 business days of the Binding Agreement execution.
The source of funds for the acquisition is identified as internal accruals of the Company post-IPO listing and/or a specific bank acquisition term loan from a scheduled commercial bank; IPO Net Proceeds will not fund this acquisition.
Timeline and Ownership Structure
The timeline for the acquisition suggests several key milestones:- Binding Agreement: Expected to be signed by April 17, 2026.
- Final SPA drafting & execution: Scheduled by May 15, 2026.
- Completion Date/Settlement: Targeted for May 22, 2026.
- ASIC lodgement (director/share changes): Expected by June 15, 2026.
The company will acquire 100% ownership and control, specifically obtaining 100% of the issued share capital of GM&FE Ryan Pty Ltd (ACN: 085 586 910) and 100% of the units of beneficial interest in the GMR Engineering Services Unit Trust (ABN: 83 408 901 287) currently held by Mr. Glen Marshall Ryan and Mrs. Fay Elizabeth Ryan.
The Board Meeting addressing this matter commenced on April 9, 2026, at 4:30 P.M. and concluded on April 9, 2026, at 5:45 P.M.
Stock Price Movement
Monarch Surveyors and Engineering Consultants Ltd settled at ₹209.95 on Thursday, declining by ₹9.80, or 4.46%. Throughout the session, the shares moved through a noticeable range, hitting a low of ₹205.05 before testing a high of ₹215.05.Source:
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