Acrow Formwork & Scaffolding
Initial investment date: September 2010
Acrow operates a national network of branches providing scaffolding and formwork solutions to the residential, commercial and civil construction sectors. Its brands include the industry standard "Acrow" brand in formwork and "Cuplock" in scaffolding. The company is headquartered in NSW and is a major player in the Australian scaffolding and formwork hire market. Acrow provides a full service solution for its clients, including design and engineering for optimal efficiency and performance.
In September 2010 Anchorage acquired 100% of Boral Formwork & Scaffolding Pty Limited, a wholly owned subsidiary of Boral Limited, formerly part of the Boral Construction Related Division. Following completion, the company was renamed Acrow Formwork & Scaffolding Pty Limited.
Acrow is a classic orphan investment for Anchorage, where the business was non-core to its former parent and subsequently was not performing to its full potential. Acrow has a strong brand in the construction market. Through an operational turnaround, Anchorage identified an opportunity to leverage this brand and market position, as well as extract the benefits of an increased strategic focus following the decoupling from Boral.