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The latest update is out from Bhagwan Marine Ltd. ( (AU:BWN) ).
Bhagwan Marine Limited has agreed to acquire 100% of Riverside Marine Holdings for an enterprise value of up to $130 million on a debt-free, cash-free basis, in a deal that materially enlarges its fleet, service range, and geographic footprint. Riverside, a Brisbane-based group founded in 1926 and operating around 30 vessels across several brands, brings forecast FY26 revenue of $63 million and EBITDA of about $26 million, with strong exposure to industrial, research, transport, and logistics clients.
The acquisition deepens Bhagwan’s diversification into third-party vessel operations, harbour tugs, sand dredging, and commercial ferries, and broadens its presence into North Queensland, Mackay, and the Pilbara, while adding exposure to iron ore, metallurgical coal, and industrial sand. Funded through a mix of a three-year $70 million debt facility, $20 million in vendor equity, and a $30 million institutional placement, the transaction is expected to be earnings and return accretive, lifting pro forma FY25 revenue to $364.3 million, EBITDA to $77.2 million, and EBITDA margins to 24%, and increasing recurring revenue to about half of the group’s total, with Riverside’s management and the Campbell family remaining as significant shareholders to support continuity and alignment.
The most recent analyst rating on (AU:BWN) stock is a Buy with a A$0.80 price target. To see the full list of analyst forecasts on Bhagwan Marine Ltd. stock, see the AU:BWN Stock Forecast page.
More about Bhagwan Marine Ltd.
Bhagwan Marine Limited is an Australian marine solutions provider listed on the ASX, focusing on vessel management, marine services, and support for industrial resources and infrastructure projects. The company operates a diversified fleet and aims to be a preferred marine partner across key regions, with an increasing emphasis on recurring, contract-backed revenues and capital-light operating models.
Average Trading Volume: 353,378
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$123.8M
See more insights into BWN stock on TipRanks’ Stock Analysis page.