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Acrow Ltd ASX:ACF

0 opened or increased2 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 3 managers in total.

Position history by manager 3 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

202420252026

31 Dec 2023 to today

Commentary Showing 2 of 5

DateManagerActionSummary

30 Jun 2026Perennial PartnersHeldPerennial Partners continues to hold Acrow, which contributed positively, up 7.2%, after announcing two strategic acquisitions, Ausgroup Industrial Services and Preston SuperDeck, alongside a capital raise and upgraded earnings guidance. The manager believes the acquisitions broaden Acrow's capability across industrial access, construction services, and loading platforms, while the capital raise strengthens the balance sheet. Perennial also highlights positive activity across Queensland, positioning Acrow to benefit from the civil infrastructure cycle and potential Olympic-related construction ahead of the 2032 Brisbane Games.

Monthly Report, price recorded $0.90

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10 Apr 2026Salter BrothersHeldSalter Brothers continues to hold Acrow Ltd because the company delivered a first-half result in line with expectations and its guidance, with forward indicators continuing to strengthen — hire contract pipeline up 34% on prior corresponding period and a record monthly value of contract wins through May of $14.3 million. Salter Brothers notes the board has issued FY27 EBITDA guidance of $88–98 million, above FY26 guidance of $82 million at the midpoint, supported by increased activity in Queensland.

Monthly Report, price recorded $0.95

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 3 managers first commented on ACF.

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About Acrow Ltd

Industrials, Trading Companies and Distributors

Acrow (ASX:ACF), a formwork and scaffolding hire business, has been expanding through acquisitions and upgraded guidance. In June 2026, Perennial Partners reported Acrow rose 7% after announcing two strategic acquisitions, including Ausgroup Industrial Services, a capital raise and upgraded earnings guidance. In April 2026, Salter Brothers noted a first-half result in line with expectations, with forward indicators strengthening as the hire contract pipeline rose 34% and the company recorded a record month of activity. Acrow operates in the Industrials sector within the Trading Companies and Distributors industry, and Thesis Tracker has captured 5 comments from 3 fund managers, including Perennial Partners and Salter Brothers. Founded in 1936 and headquartered in Sydney, Acrow provides engineered formwork, scaffolding, screen systems and industrial services to the construction, infrastructure and resources sectors across Australia, earning recurring hire revenue from its equipment fleet alongside sales and labour services.

Market cap: $383m
Price to earnings: 17.5x
Return on equity: 10.6%
Dividend yield: 3.6%
Price to book: 1.85x
Net margin: 5.6%
52-week range: $0.79 to $1.17

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Acrow Ltd (ASX:ACF)?

Fund managers including Salter Brothers, Renaissance Asset Management and Perennial Partners have invested in Acrow Ltd (ASX:ACF).

What opportunities or catalysts do fund managers highlight for Acrow Ltd?

Perennial and Salter Brothers highlight upgraded earnings guidance, accretive acquisitions, a 34% increase in the hire contract pipeline and record activity levels supporting growth.

What are the key risks to the Acrow Ltd investment thesis, according to fund managers?

The available commentary is positive and does not set out specific risks, though Acrow's earnings depend on construction and infrastructure activity and integrating acquisitions.

What does Acrow Ltd (ASX:ACF) do?

Acrow Ltd. is an Australian construction services provider founded in 1936 and headquartered in Sydney. The company specializes in engineered formwork, scaffolding, and screen systems, alongside industrial labor supply for major infrastructure and building projects. It operates through three core divisions: Acrow Formwork and Scaffolding Pty Ltd., which provides bespoke formwork and hire services; Natform Pty Ltd., focused on screen system design and hire; and Uni-span Australia Pty Ltd., which integrates engineering solutions with industrial labor supply.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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