NRW Holdings Completes Fredon Acquisition and Raises FY26 Outlook

NRW Holdings Limited (ASX: NWH) has finalized its acquisition of Fredon Industries Pty Ltd, following its earlier announcement in September 2025. The deal was financed through NRW’s existing credit facilities, with an additional earn-out payment of up to AU$60 million contingent on Fredon’s CY25 performance. The acquisition adds 2,500 employees and expands NRW’s service portfolio, particularly in HVAC and electrical services for fast-growing sectors like data centers, defence, healthcare, and infrastructure. Managing Director Jules Pemberton highlighted Fredon’s strong reputation and the creation of a new “EMIT” division, marking NRW’s fourth business pillar. Backed by solid early FY26 activity and favorable conditions in Queensland, NRW updated its FY26 guidance to revenue exceeding AU$4 billion and EBITA between AU$255–AU$265 million. The integration enhances NRW’s capabilities across Australia, North America, and New Zealand, strengthening its position in diversified contracting and infrastructure services

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