FOS Capital Limited (ASX: FOS) has announced the acquisition of Glowing Structures, a Melbourne-based specialist lighting design consultancy. The acquisition, completed on May 5, 2025, aims to significantly expand FOS Capital’s footprint in the lighting services industry. Glowing Structures, established in 2007, offers innovative design services and technical advice from conception to installation across diverse sectors, including education, commercial, hospitality, and residential. In FY24, Glowing Structures generated $1.3 million in sales and $0.3 million in EBITDA, with its lighting designs specified on $14 million worth of lighting product sales.
The purchase price of $700,000 includes $200,000 in cash paid upon completion, another $200,000 due in six months, and $300,000 in FOS ordinary shares issued at 31 cents per share. These shares will be escrowed for 18 months. The transaction is funded through FOS Capital’s existing cash and debt facilities. Adam De Guara, the Founder and Managing Director of Glowing Structures, will remain in his current role under a three-year agreement and become a key shareholder in FOS Capital.
FOS Capital’s Managing Director, Con Scrinis, emphasized the strategic importance of the acquisition. He anticipates a substantial opportunity to convert Glowing Structures’ sales specifications into sales of FOS’s market-leading lighting products. The acquisition aligns with FOS Capital’s growth strategy by integrating design services and product sales. The company expects to leverage Glowing Structures’ established client base and expertise to enhance its market position and drive revenue growth. The acquisition was approved by the FOS Capital Limited Board of Directors.
