PKF advises Griffin Industrial Group and its shareholders on a secondary share sale to ABGF

PKF Perth Corporate Finance (“PKF”) recently acted as financial adviser to Griffin Industrial Group ("Griffin Industrial", "Company") on a transaction with the Australian Business Growth Fund (“ABGF”), marking a significant milestone in the Company’s growth trajectory. 

Griffin Industrial brings together the capabilities of Griffin Marine and Westurn Engineering, delivering precision engineering, marine maintenance, and fabrication services across Australia. The business has established a strong reputation supporting defence, commercial marine, and industrial sectors nationwide.

ABGF is Australia’s dedicated growth‑stage investment fund for SMEs, created to bridge the funding gap for scaling businesses and to support founders and shareholders in unlocking long‑term, sustainable growth.

The transaction involved ABGF acquiring a minority stake in Griffin Industrial through a secondary share sale from existing shareholders.

The PKF team provided Griffin Industrial with financial advisory services in relation to the secondary share sale to ABGF, including: 

• Advisory and support to the Company and its shareholders through negotiations with ABGF, including preparation for and participation in key commercial discussions;
• Assistance in determining and negotiating Enterprise Value and Equity Value, including purchase price adjustments, net debt definitions, and other value‑impacting mechanisms;
• Assistance in calculating and negotiating normalised EBITDA, including review of normalisation methodologies; and
• Strategic guidance and advisory to the shareholders and management team.

The engagement was led by Matthew Hall, Executive Director - Corporate Finance, Arman Talwar - Corporate Finance Manager, and Gonçalo Freitas - Corporate Finance Manager.

This secondary share sale to ABGF provides Griffin Industrial with a partner whose involvement is expected to enhance the Company’s strategic positioning, support future growth initiatives, and strengthen governance and commercial capability.

“We are extremely pleased with the outcome achieved alongside PKF. Their expertise, responsiveness, and ability to navigate a complex transaction was critical in securing the right outcome for our shareholders and the business. This strategic investment from ABGF provides a strong platform for Griffin Industrial to continue expanding and achieving our long-term growth ambitions.”

Chris Stoll, Managing Director, Griffin Industrial Group

“We are delighted to have supported Griffin Industrial on this transaction. The introduction of ABGF as a shareholder through this secondary share sale brings a highly aligned and value-adding partner into the business. ABGF’s involvement is expected to support the Company as it enters its next phase of growth. This transaction also highlights the continued strength and resilience of the industrial and engineering services sector nationally. We look forward to seeing Griffin Industrial continue to scale and achieve further success in the years ahead.” 

Matthew Hall, Executive Director, PKF Perth 

Reach out to the PKF Corporate Finance team to learn how we can support your business. We provide clear guidance at every stage, helping you make informed decisions whether you are buying a business, selling a business, or raising capital, and positioning your transaction for a successful outcome.