Quickstep – sale to ASDAM Operations
Miles Advisory Partners advised the board of Quickstep (ASX:QHL) on their sale to ASDAM Operations (majority-owned CPE Capital) by way of scheme of arrangement.
Transaction Details
Sector
Industrial
Miles Role
Sell-side advisor to the board of Quickstep
Deal Type
Mergers & Acquisitions
Year Completed
2025
Contacts for this Transaction
Lloyd Way
Managing Director
Overview
- Quickstep engineers and manufactures advanced composite solutions for global defence, commercial aerospace, and specialty sectors, including composite components for the F-35 and C-130, which accounted for 97% of FY24 revenue
- Additional capabilities include medium and large UAV production, space structures, hypersonic components, and engineering services spanning design for manufacture, prototyping, and proprietary product development
- As at 31 December 2024, Quickstep employed 209 people, primarily at its Bankstown, NSW production facility, with a smaller team in Geelong, Victoria
- The acquisition was pursued by ASDAM, a CPE Capital portfolio company, to expand its sovereign defence capability; ASDAM was already one of Quickstep’s largest customers on the F-35 program, making the transaction a logical vertical integration
- The transaction was structured as a scheme of arrangement, with Quickstep shareholders receiving $0.575 per share, representing a 195% premium to the last closing price prior to the initial takeover bid announcement
Further information on this transaction is available at: ASX Announcement / Scheme Booklet
