In October 2015, Advent concluded the sale of its shareholding in Shape Group (formerly ISIS) to a consortium of investors, comprising management, existing shareholders and new investors. The exit represented a return 2.0x the original invested capital.
Shape Group is a leading Australian player in the commercial property solutions market providing high quality project management services for construction, commercial fitouts and refurbishments. The business has delivered both large and small fitout and refurbishment projects for some of Australia’s leading government and private sector organisations.
During Advent’s investment, Shape Group has grown annual sales from approximately A$160 million to over A$400 million and now employs over 300 staff with national coverage from offices in Sydney, Melbourne, Canberra, Brisbane, Adelaide, Perth and Darwin.
The Shape Group investment is Advent’s penultimate in the Advent IV Fund which has included successful investments such as AVCAL award winner SCADAGroup, Taverner Hotel Group and ACIL Australia.