2026 Australian Construction & Building Services M&A Overview

Published May 2026  |  Morgan Business Sales  |  Mid-Market M&A Advisory

Executive Summary

The Australian Construction and Building Services sector enters 2026 as one of the most active and structurally supported M&A markets in the country. Total sector revenue reached AUD $641 billion in FY2025–26, contributing approximately 7% of GDP and employing 1.37 million Australians — 9.3% of the national workforce. The sector spans residential building construction, heavy and civil engineering, and a broad spectrum of building services trades and specialty contractors, underpinned by the largest public infrastructure pipeline ever recorded in Australia.

Infrastructure Australia's 2025 Infrastructure Market Capacity Report puts the five-year Major Public Infrastructure Pipeline at $242 billion — up 14% year-on-year — with total construction demand across public and private investment reaching $1.14 trillion for 2024–25 to 2028–29. The National Renewable Energy Priority List, Rewiring the Nation transmission program, and state government capital works programs collectively create $163 billion in clean energy infrastructure demand. Against this backdrop, the national housing shortfall — estimated at over 250,000 dwellings against the 1.2 million home target — ensures residential construction demand remains structurally elevated through the decade.

M&A activity has been exceptional. Pacific Equity Partners acquired Johns Lyng Group at a $1.3 billion enterprise value and 10.3x EBITDA in October 2025 — the largest construction sector take-private in Australian history. Heidelberg Materials committed AUD $1.703 billion for MAAS Group's construction materials division. NRW Holdings acquired Fredon Industries for up to $200 million. STRABAG acquired Georgiou Group. Sojitz acquired Capella Capital and UGL Transport. The buyer universe has never been more diverse: European construction groups, Japanese institutional investors, US private equity, domestic PE, and ASX-listed consolidators are all competing for quality Australian construction businesses.

The sector also faces headwinds that paradoxically amplify acquisition activity. Construction accounted for 27% of all Australian company insolvencies in FY2024 — creating distressed acquisition opportunities, capability gaps, and acqui-hire rationale for better-capitalised buyers. A skilled workforce shortage of 141,000 workers — forecast to grow to 300,000 by 2027 — means that gaining access to a trained, certified trades workforce is itself a strategic acquisition motive. For owners of well-run, mid-market construction and building services businesses, these dynamics translate directly into strong buyer competition and well-evidenced valuations.

Industry Overview: Scale, Structure & ANZSIC Classification

The Australian Construction and Building Services sector is classified under ANZSIC 2006 Division E — Construction, which contains three subdivisions, eight groups, and 24 four-digit industry classes. The sector's breadth reflects the complexity of the built environment: from large-scale civil and infrastructure work through to highly specialised trade contracting, building completion, and compliance services.

The sector is exceptionally fragmented. Of the approximately 431,000 businesses operating in Division E, 98.5% employ fewer than 20 people and 91% are microbusinesses with fewer than five staff. SMEs collectively account for approximately 53% of total industry revenue. This fragmentation — combined with sustained infrastructure demand and a trained-workforce shortage — creates persistent consolidation pressure and a well-evidenced rationale for strategic acquisition activity across all subsegments.

Key ASX-listed operators include Downer EDI (market cap ~$5.4B), NRW Holdings (~$3.5B), SRG Global (~$1.9B), MAAS Group (~$1.8B), Service Stream (~$1.5B), Ventia Services Group (~$5.4B by enterprise value), and Acrow Limited (~$263M). Following the Pacific Equity Partners take-private transaction in October 2025, Johns Lyng Group — previously one of the sector's most significant listed businesses — is no longer ASX-listed. Major private operators include ARA Group (~$969M revenue), Hansen Yuncken (~$992M revenue), Built (~$3.1B revenue), Multiplex (~USD 3.9B global revenue), and Georgiou Group (now owned by STRABAG, ~$1.3B output).

Recent M&A Transactions: 2023–2026

The following table presents significant M&A transactions involving Australian construction and building services businesses from 2023 through to May 2026. Each transaction is a genuine acquisition or merger — not a market event, sector trend, or financial commentary. Transactions are presented with detailed context relevant to owners of mid-market construction businesses considering their own exit.

Valuation Benchmarks: What Are Australian Construction Businesses Worth?

Construction and building services businesses are valued differently depending on their subsegment, revenue model, client mix (government vs. private; recurring vs. project), workforce depth, and the buyer cohort they attract. The following benchmarks draw on disclosed Australian transaction data and current global industry research.

A clear and consistent pattern across all construction subsegments is the recurring revenue premium: businesses with contractual, maintenance-based, or subscription revenue consistently achieve 30–80% higher multiples than comparable businesses generating the same EBITDA from pure project work. This reflects the fundamental difference in earnings quality — a business with $2M EBITDA from maintenance contracts is materially more valuable than a business with $2M EBITDA from a single large project, because the maintenance revenue will recur and can be modelled with reasonable confidence.

Demand Drivers: What Is Fuelling Construction M&A in 2026?

1. A Record $1.14 Trillion Infrastructure Pipeline

Infrastructure Australia's 2025 Infrastructure Market Capacity Report — the definitive national assessment — places total construction demand across public and private investment at $1.14 trillion for the five years 2024–25 to 2028–29. The Major Public Infrastructure Pipeline alone stands at $242 billion, up 14% year-on-year and the highest ever recorded. Transport infrastructure accounts for $129 billion, buildings infrastructure (health, education, social housing) for $77 billion, and utilities (energy, transmission, water) for $36 billion — the utilities category having more than doubled year-on-year.

State-by-state, the scale of committed construction activity is unprecedented. Western Australia's 2026–27 Budget announced the largest capital works program in the state's history — $44.3 billion over four years, including $6.4 billion in water infrastructure, $5.5 billion in health facilities, and $1.4 billion for the SWIS transmission network. New South Wales committed $118.3 billion in infrastructure investment over four years to 2028–29. Victoria's North East Link alone — at $26.2 billion — is the largest single road project in Australian history. Queensland's Cross River Rail has been revised to $19 billion (from an original $5.4 billion estimate) with completion deferred to 2029. ANZ Research projects Australian major project construction will peak at $80.3 billion in FY2026 alone.

This pipeline creates strategic acquisition rationale at every level: international construction groups acquiring Australian platforms to access government procurement relationships; domestic consolidators acquiring workforce and capability to win and deliver larger contracts; and infrastructure investors acquiring service businesses with long-term government and utility maintenance contracts underpinned by committed public expenditure.

2. The Housing Shortfall — 250,000+ Dwellings and Growing

Australia's National Housing Accord targets 1.2 million new homes by mid-2029. Current tracking puts completions at approximately 938,000 — a shortfall of over 262,000 dwellings, confirmed by both the National Housing Supply and Affordability Council and Treasury in Senate Estimates hearings in early 2026. Australia completed 174,271 dwellings in FY2025 — approximately 40% below the 240,000 per annum rate required to meet the target. The cumulative housing undersupply from 2022 to 2025 is estimated at over 179,000 dwellings, driven by record net overseas migration of approximately 1.3 million people in the period.

The structural shortfall creates durable M&A demand for residential construction capacity, land pipeline, modular and prefabricated construction capability, and businesses positioned to deliver the government-backed social and affordable housing program embedded in the $77 billion buildings infrastructure pipeline. Acquirers — including Japanese builders (Sumitomo Forestry, which acquired 51% of Metricon Group in September 2024 for $115 million), domestic project home builders, and government-backed housing delivery vehicles — are actively seeking businesses with residential pipeline, volume scale, and workforce capability.

3. The $163 Billion Renewable Energy Construction Boom

Australia's renewable energy infrastructure program — Rewiring the Nation grid upgrades, offshore and onshore wind, large-scale solar, pumped hydro — represents a $163 billion construction pipeline over the five-year outlook. Transmission projects in the Major Public Infrastructure Pipeline have grown from $4 billion (2024) to $15 billion (2025) as new grid connection projects move from planning to committed spend. The National Renewable Energy Priority List, established March 2025, comprises 56 priority projects across the national electricity network.

The practical consequence for construction M&A is a concentration of acquisition activity around HV electrical, grid-connection, civil and geotechnical contractors, and equipment businesses that can service the renewable energy build-out. Monadelphous completed three HV acquisitions in eight months (HES, Kerman, APIP) with a combined spend of approximately $40 million. NRW Holdings' $200 million Fredon acquisition was explicitly framed as an energy transition capability investment. Ventia's $20.2 million acquisition of PowerNet added HV substation expertise. These are not isolated events — they represent a structural shift in acquisition rationale as the renewable energy pipeline accelerates beyond the capacity of organic recruitment to meet.

4. Construction Insolvencies — Crisis Creating Opportunity

Construction accounted for 27% of all Australian company insolvencies in FY2024 — the highest of any sector, for multiple consecutive years. Approximately 3,490 total construction company insolvency appointments were recorded in FY2025, with record numbers of residential builders and subcontractors entering external administration. The root causes are well-documented: fixed-price contracts signed during low-inflation periods being delivered during a period of 31–41% cost increases; skilled labour shortages forcing reliance on higher-cost subcontractors; interest rate increases eroding project margins; and the end of pandemic-era government stimulus support.

For well-capitalised buyers, this environment creates three distinct acquisition opportunities: distressed asset purchases at attractive entry valuations; capability-gap acquisitions targeting businesses with trained, accredited workforces and government certifications that cannot be replicated through hiring alone; and strategic roll-up opportunities targeting businesses with strong client relationships but insufficient capital or management bandwidth to compete for the next generation of government contracts. The insolvency environment also concentrates the surviving mid-market — the businesses that have maintained financial discipline through the cycle are precisely the businesses that attract the strongest buyer interest and the highest valuations.

5. Labour Scarcity — The Acqui-Hire Imperative

Infrastructure Australia quantifies the current Australian construction workforce shortage at 141,000 workers, growing to an estimated 300,000 by mid-2027. 49% of construction trades occupations are classified as in shortage. Labour costs are rising 4–8% per annum, and average construction times have increased by 34% since 2020. For the largest contractors bidding on major government programs, access to a certified, pre-qualified trades workforce is itself a strategic asset — often more valuable than the EBITDA of the business being acquired.

This acqui-hire dynamic is particularly evident in HV electrical (Monadelphous, NRW, Ventia), fire protection (SXE, ARA Group), and marine infrastructure (SRG/TAMS). In each case, the workforce comes with the business: licensed, safety-certified, operationally deployed tradespeople who cannot be rapidly recruited from the market. For owners of construction businesses with skilled, tenured workforces — particularly in trades where licensing requirements, safety certifications, or specialised accreditations create genuine scarcity — this workforce premium is a material, but often underestimated, component of sale value.

6. Insurance Events and the Building Repair Sector

Australia's 2025 extreme weather season generated $4.8 billion in insured losses — a 727% increase on 2024, with 294,000 claims lodged. The Insurance Council of Australia has documented a structural increase in weather-related claims frequency and severity, reflecting the compounding effects of coastal development, ageing housing stock, and climate-driven weather intensification. This creates a durable, recurring demand base for insurance building and restoration businesses that is structurally separate from the construction project cycle.

Pacific Equity Partners' $1.3 billion acquisition of Johns Lyng Group at 10.3x EBITDA — by far the highest multiple in the current construction M&A cycle — is the clearest signal that institutional buyers understand and are willing to pay a premium for the structural demand characteristics of insurance building repair. ARA Group has made five insurance building acquisitions in 18 months. The sector has effectively become a PE-validated subsegment with recognised premium multiples, distinct from the broader construction market. For owners of businesses with insurer panel agreements and a reliable BAU (business-as-usual) repair revenue base, the current market represents the strongest valuation environment the sector has seen.

Buyer Profiles: Who Is Acquiring Australian Construction Businesses?

The buyer universe for Australian construction and building services businesses is diverse, well-capitalised, and — crucially — motivated by different strategic rationales. Understanding which buyer type best suits your business is a critical determinant of the achievable sale price and deal structure.

International Construction Groups

European construction giants are entering or expanding in Australia at a pace not seen in the sector's history. STRABAG SE (Austria/Germany) acquired Georgiou Group (Q1 2025). VINCI (France) holds 51% of Taylor Rail and generates AUD $1.4+ billion in Australian revenue via Seymour Whyte. Heidelberg Materials (Germany) has spent over $2.5 billion acquiring Australian construction materials assets across BGC Cementitious, MAAS Materials, Elvin Group, Midway Concrete, and multiple quarries. Saint-Gobain (France) acquired CSR for $4.3 billion; CRH (Ireland) acquired Adbri for $2.1 billion. Hochtief/CIMIC has tightened its ownership of Thiess to 60% and is pursuing a full squeeze-out of listed minorities.

Japanese institutional investors represent a separate, equally significant cohort: Sojitz Corporation has acquired Capella Capital ($470M) and a 50% interest in UGL Transport ($500M proceeds to CIMIC). Sumitomo Forestry acquired 51% of Metricon Group ($115M). These are not speculative investments — they reflect Japan's domestic construction market constraints, the strategic alignment between Australia's infrastructure pipeline and Japanese engineering expertise, and the long-duration, government-backed revenue characteristics that Japanese investors prize.

For owners of Australian construction businesses, the presence of international strategic acquirers means that the relevant buyer pool extends well beyond domestic companies. Reaching these buyers requires an advisory process that actively markets to international cohorts — something that a domestic-only or passive listing process will not achieve.

ASX-Listed Consolidators

ASX-listed construction and industrial services companies are among the most active and consistent acquirers in the current cycle, motivated by growth mandates, earnings accretion objectives, and the need to build capability for large government contracts. NRW Holdings, SRG Global, Acrow Limited, Ventia, Monadelphous, Downer EDI, and Service Stream each completed multiple acquisitions in 2024–2026. Their shared logic is straightforward: acquiring a profitable, capability-complementary business is faster, lower-risk, and often cheaper than organic capability development — particularly in a tight labour market.

For vendors, ASX-listed strategic acquirers typically offer clean, executable deal structures — often predominantly cash with some listed equity component — and a clear integration thesis. They are also transparent about their financial position and have boards that approve acquisition parameters publicly, providing vendor certainty about deal completion risk.

Private Equity — Domestic and Offshore

Global PE activity in construction M&A reached a record level in 2025, with PE accounting for 54.3% of all construction transactions by deal count — the first time PE has led the sector's M&A activity. In Australia, Pacific Equity Partners' $1.3 billion acquisition of Johns Lyng Group is the defining domestic PE transaction, confirming that Australia's largest PE firm views construction-adjacent building services as a PE-appropriate asset class. Pemba Capital is active across mid-market building services. Fortitude Investment Partners (Brisbane) is building a fire protection portfolio. Internationally, Blackstone, KKR, and Goldman Sachs-backed platforms are accumulating HVAC, plumbing, and electrical services businesses at record multiples in the US — creating a template that Australian PE firms are monitoring closely.

PE buyers typically pay a higher multiple than strategic acquirers (global average 10.6x vs. 7.5x for corporates) but require a management team willing to remain and grow the business under PE ownership — typically with a 3–5 year timeline to a subsequent exit. For vendors with strong management teams and significant growth runway, PE can deliver a higher immediate multiple and the potential for a second bite via the PE exit transaction.

Domestic Strategic Consolidators

ARA Group (8+ acquisitions in insurance building and fire protection in 18 months), MAAS Group (multiple quarry and materials acquisitions), and Cleanaway (Contract Resources $377M) represent the domestic strategic consolidator model: businesses that are systematically acquiring to build a dominant platform in a specific segment, moving quickly, and using their knowledge of the local market to identify and approach targets before they come to broader market attention. For vendors in subsegments where active roll-ups are underway, approaching the roll-up buyer directly — or using an adviser who is known to them — can accelerate deal timelines and reduce transaction friction.

Key Valuation Factors for Construction & Building Services Businesses

Revenue Quality: Recurring vs. Project

The single most important valuation driver in construction and building services is the proportion of recurring, contracted, or maintenance-based revenue versus one-off project work. A business generating $3M EBITDA from long-term maintenance contracts — strata services, AS 1851 fire testing, HVAC preventive maintenance, utility asset management — will consistently attract a 40–80% higher multiple than a comparable business generating the same earnings from project construction. Buyers pay for certainty, and contractual maintenance revenue is the most certain form of earnings available in this sector.

Client Mix: Government vs. Private

Government and utility counterparties are materially more valuable than private sector clients in the current environment. Government clients do not go insolvent; their payment terms are regulated; and their procurement frameworks (panels, standing offers, approved supplier lists) create durable, sticky revenue relationships. Businesses with 60%+ government revenue consistently achieve higher multiples than comparable businesses with predominantly private developer or commercial client revenue — a differential that has widened as private construction insolvencies have increased and government infrastructure spending has accelerated.

Workforce: Certification, Depth, and Dependency

In a market with a 141,000-worker shortage, a trained, certified, and tenured construction workforce is a strategic asset that buyers will pay to acquire. Businesses with accredited HV electricians, licensed plumbers, AS 1851-qualified fire protection technicians, or government security-cleared workers command a workforce premium — particularly from buyers who know they cannot hire this capability in the current market. Conversely, businesses with high owner-dependency (key relationships or technical knowledge concentrated in the founder) attract a discount that can be meaningfully reduced through a managed pre-sale preparation process.

Work-in-Hand and Forward Revenue Visibility

Buyers reduce their valuation uncertainty by paying for future earnings — and businesses that can demonstrate a well-contracted forward order book or pipeline of work reduce buyer uncertainty and command higher multiples. SRG/Diona's $111 million transaction was explicitly framed around Diona's $1 billion in contracted work: that forward revenue visibility gave SRG confidence in the acquisition's contribution to earnings. For mid-market businesses, even a modestly contracted 12-month forward pipeline — frame agreements, panel contracts, standing work orders — materially improves valuation outcomes.

Scale and Geographic Reach

Larger businesses command higher multiples in every construction subsegment. This is a well-documented and consistent pattern: Acrow paid 3.8x–4.0x for bolt-on scaffolding businesses, but itself trades at 5.4x as a platform; Johns Lyng Group achieved 10.3x at $1.3B enterprise value, but smaller insurance building businesses would typically transact at 5.0x–8.0x. For owners of businesses approaching mid-market scale, the difference between a business that achieves 5x and one that achieves 8x EBITDA is often a combination of size, geographic diversification, and management depth — all of which can be actively developed in the 12–24 months prior to a sale.

Frequently Asked Questions

Is now a good time to sell a construction or building services business in Australia?

Yes — the current environment represents one of the strongest M&A windows the Australian construction sector has seen. A record $1.14 trillion infrastructure pipeline, a housing shortfall above 250,000 dwellings, $163 billion in renewable energy construction, and a proven international and domestic buyer pool are all aligned. Pacific Equity Partners acquired Johns Lyng Group at 10.3x EBITDA; Heidelberg Materials committed $1.703 billion for MAAS Materials at 8.4x; NRW Holdings paid up to $200 million for Fredon at 5.2x EV/EBIT. These are not outliers — they reflect a sustained, well-capitalised buyer market. For owners with $1M+ EBITDA, the combination of buyer depth and structural demand tailwinds creates a favourable exit environment.

What EBITDA multiples do Australian construction and building services businesses achieve?

Multiples range from 2.5x (small, project-dependent, owner-reliant) to 12x+ (large, national, recurring revenue, PE-grade). The key variables are subsegment, revenue quality, client mix, scale, and management depth. Construction materials: 6.5x–10.6x for mid-to-large platforms. Infrastructure services: 5.0x–8.0x. Building services (electrical, plumbing, HVAC, fire): 4.5x–9.0x depending on recurring revenue proportion. Scaffolding: 3.0x–5.5x. Insurance building repair: 5.0x–12.0x. These are transaction benchmarks drawn from disclosed Australian deal data — not theoretical ranges.

Who is buying Australian construction businesses?

Four cohorts: (1) International construction and materials groups — STRABAG, Heidelberg Materials, VINCI, CRH, Saint-Gobain, Sojitz, Sumitomo; (2) ASX-listed consolidators — NRW Holdings, SRG Global, Acrow, Ventia, Monadelphous, Service Stream; (3) Private equity — Pacific Equity Partners, Pemba Capital, Fortitude Investment Partners, and offshore PE increasingly active; (4) Domestic strategic acquirers — ARA Group, MAAS Group, Cleanaway and similar roll-up platforms. Each buyer cohort has different valuation frameworks, deal structure preferences, and post-acquisition objectives — understanding which buyer type is best suited to your business is a critical determinant of the outcome you achieve.

What is driving M&A activity in the Australian construction sector in 2026?

Six reinforcing drivers: a $1.14 trillion infrastructure pipeline; a 250,000+ dwelling housing shortfall; a $163 billion renewable energy construction program; a construction insolvency crisis that is creating distressed acquisition opportunities and capability gaps; a 141,000-worker labour shortage that makes acquiring a skilled workforce faster than hiring one; and a $4.8 billion extreme weather insurance loss year that confirms the structural durability of insurance building repair demand. These are not cyclical tailwinds — they are structural features of the Australian construction market for the next five to seven years.

What types of construction businesses attract the highest valuations?

Businesses with: (1) high recurring maintenance revenue (AS 1851 fire compliance, HVAC service, strata building services, utility asset management); (2) government or utility counterparties (insulated from private sector insolvency risk); (3) specialist technical capability that cannot be recruited in the current labour market (HV electrical, marine infrastructure, heritage masonry, rail signalling); (4) insurer panel agreements with a strong BAU revenue base (insurance building repair); and (5) long-term work-in-hand or contracted forward pipeline. The common thread across all of these is earnings certainty — buyers pay a premium for revenue they can rely on.

How do I find out what my construction or building services business is worth?

The most accurate and reliable way is a confidential valuation from a specialist broker with direct experience in construction sector transactions. Valuation in this sector requires an understanding of your specific subsegment, revenue quality, workforce, government relationships, and the buyer cohort most likely to compete for your business. Generic business valuation tools or accountant-produced valuations frequently misrepresent construction business value — either under-valuing the strategic asset characteristics (workforce, government relationships, specialisation) or over-valuing based on peak earnings in a volatile sector. Morgan Business Sales advises on construction and building services business sales nationally. Contact us for a confidential discussion.

Sources & References

• Infrastructure Australia — 2025 Infrastructure Market Capacity Report: $1.14 Trillion Total Construction Demand; $242 Billion Major Public Infrastructure Pipeline (November 2025)
• IBISWorld — Australian Construction Industry (Division E): AUD $641.1 Billion Revenue, 431,000 Businesses, 1.37 Million Employees (FY2025–26)
• Australian Bureau of Statistics — Nuts and Bolts of the Australian Construction Industry: 7.0% of GDP; 1.29 Million Employees 2023–24 (June 2025)
• Heidelberg Materials — MAAS Group Construction Materials Acquisition: AUD $1.703 Billion; 8.4x Post-Synergy EV/EBITDA (February 2026)
• Gilbert + Tobin — Pacific Equity Partners / Johns Lyng Group Take-Private: $1.3 Billion EV; 10.3x FY25F EBITDA (October 2025)
• K&L Gates — NRW Holdings / Fredon Industries: Up to AUD $200 Million; 5.2x EV/EBIT at Maximum Consideration (October 2025)
• Cleanaway Waste Management — Contract Resources Acquisition: AUD $377 Million; 7.3x FY25F EBITDA Pre-Synergy (July 2025)
• Sojitz Corporation — UGL Transport 50% Acquisition from CIMIC: ~AUD $500 Million Proceeds; ~$800 Million Full Business EV (December 2025)
• Sojitz Corporation — Capella Capital Partnership Acquisition from Lendlease: ~AUD $470 Million (June 2025)
• The West Australian — SRG Global / Total AMS (TAMS): $85M–$115M; ~3.2x EV/EBITDA; Marine Infrastructure Services (October 2025)
• ASX Announcement — Southern Cross Electrical Engineering / Force Fire Holdings: Up to AUD $53.5 Million; 4.8x FY25F EV/EBIT (April 2025)
• Arada — Roberts Co (NSW) Acquisition / Recapitalisation: AUD ~$20M Immediate; Up to $100M Committed (May 2025)
• ASIC — Annual Insolvency Data FY2024: Construction Sector 27% of All Australian Company Insolvencies (2024)
• Infrastructure Australia — Labour Shortage: 141,000 Current Shortfall; Forecast 300,000 by Mid-2027 (2025 Infrastructure Market Capacity Report)
• Jobs and Skills Australia — Construction Industry Employment Profile: 1,371,500 Workers; 9.3% of Australian Workforce (February 2026)
• Western Australia Government — 2026–27 Budget: $44.3 Billion Capital Works Over Four Years; Largest Infrastructure Program in WA History (May 2026)
• Treasury — National Housing Accord: 1.2 Million Homes Target by 2029; ~938,000 Forecast Completions; ~262,000 Shortfall (2024)
• HopgoodGanim — FVS Services Group / Fortitude Investment Partners: Fire Protection Mid-Market PE Acquisition (May 2026)

Disclaimer: This report has been prepared by Morgan Business Sales for general informational purposes only. It does not constitute financial, legal, or investment advice. Transaction values, EBITDA multiples, and market data are sourced from publicly available information and industry research and should not be relied upon as a guarantee of future performance or value. Business owners considering a sale should seek independent professional advice. All dollar values are in Australian dollars (AUD) unless otherwise stated.