Merger of Acrow New Zealand and Clyde Equipment/Acrow Fiji

New Zealand’s largest scaffolding, formwork, falsework and event infrastructure company, Acrow
Ltd, is expanding into the Pacific through a merger with Clyde Equipment/Acrow Fiji

Acrow NZ, SkyHigh Scaffolding and Clyde Equipment/Acrow Fiji are to merge, a move that represents
a strategic step forward for the businesses both in terms of asset base optimisation opportunities and
broadening of their service offering including into other areas of access and event infrastructure as
well as diversification of geographic regions.

The combination of these businesses creates a leading independent service provider to the
construction sector in New Zealand and the Pacific which will benefit customers and teams across the
business, says Acrow Managing Director Mark Irvine.

The existing owners of the businesses, the Reddy and Russell families, together with Mark Irvine,
provide shareholder continuity. Mark Irvine will also increase his stake in the business and will have
the role of Managing Director of the newly formed group.

“It is great to have both the Russell and Reddy families coming together with similar family values and
a strong capital base to take the joint group forward” said Mr Irvine.

“It’s positive to see Acrow in Fiji return to the fold,” said Mr Irvine. “This deal also provides the
opportunity for us to consolidate our holdings in Acrow New Zealand and SkyHigh Scaffolding, both of
which will become part of the new group.”

Mr Irvine said the group was delighted to have Reddy Group investing.

“In addition to its Fiji equipment supply and scaffolding assets, Reddy Group brings additional skills
and expertise as a leading New Zealand family office, with a professional approach and international
perspective,” he said. “Reddy Group brings fresh rigour to our strategic discussions, as well as a strong
network of relationships and opportunities across a number of sectors and throughout the Pacific

Mr Irvine said that, from an operational perspective, it was business as usual for now, but with a
strengthened outlook and exciting opportunities ahead.

“Our focus is on growth and the new opportunities arising from this merger. We will look to expand
services and drive operational improvement across the enlarged group.”

The deal was brokered by Grant Samuel and Oculus Advisors.

For further information:

Mark Irvine
Managing Director
Acrow Group
Tel: 021 745 571

About Acrow and SkyHigh
Acrow is the largest scaffolding, formwork, falsework and event infrastructure company in New
Zealand. Based in Mt Wellington, Auckland, it employs more than 400 people throughout a nationwide
branch network, servicing the industrial, commercial, civil and residential sectors, with engineering
design, equipment and labour. Acrow’s engineering design and project management sets the benchmark in New Zealand.
SkyHigh Scaffolding is a Canterbury and Auckland based provider of scaffolding services to the
residential, commercial and industrial sectors.

About Clyde Equipment/Acrow Fiji
Reddy Group acquired Clyde Engineering Co Ltd (“Clyde”), a New Zealand company which had
expanded its operations in Fiji to market and service heavy construction and industrial equipment in
the South Pacific, in 1970. In 2001, Clyde acquired certain Fiji-based operations of the scaffolding hire
business of Boral Acrow of Australia. Today, Clyde is a leading South Pacific distributor and supplier
of electrical power generating equipment, air compressors/pneumatics and water pumps as well as
light, medium and heavy equipment for the construction, industrial, commercial and hospitality
sectors. It employs more than 70 people in Suva, Lautoka and Nadi.