FOS Capital – ASX IPO

FOS Capital – ASX IPO
Asset Categories: Securities, Pre-IPO
Sale Type:
Price Guide: AUD $3M ($0.25 per share)
Status: Open


FOS Capital is a provider of commercial, retail and industrial LED lighting solutions in Australia. The FOS Group is one of a few wholly owned Australian lighting suppliers which has maintained full manufacturing capabilities in Australia. The Company provides a complete ‘concept to completion’ lighting design and manufacturing service supported by an integrated team of lighting designers
and expert engineers. The Company is an Australian public company. It’s registered office is located in Melbourne, Victoria.

FOS started operations in April 2019 and acquired the Brisbane based Frend & Megabay Lighting businesses in June 2019 from Gerard Lighting. FOS Lighting now have integrated sales, manufacturing and distribution facilities in Melbourne & Brisbane with 25 employees. Previously the team of FOS Lighting started and ran Australia’s leading national manufacturer and distributor of commercial and industrial lighting products. This business was sold to Gerard Lighting in 2004.

Asset Description:

Product Range

  • FOS manufactures a full range of:
    • Commercial luminaires, outdoor fittings and linear extruded lighting
  • FOS is the exclusive distributor of Forma Lighting in Australia
    • Complete range of commercial and architectural lighting
Growth Strategy
FOS intends to aggressively grow its business both organically and by acquisition
  • Organic expansion includes:
    • Adding new product lines to the existing range
    • Geographic expansion into NSW and SA in the near term
    • Distributing the Megabay product range internationally
    • Recruiting additional experienced sales executives
  • Acquisition Strategy
    • FOS intends to acquire complementary businesses to obtain critical mass
    • Acquisitions will assist with securing additional products, staff & customers
    • Acquisitions will also be targeted to attain geographical spread
Market Size
  • Australian Lighting Industry estimated market size $2.38B
  • Over the past 10 years big leaps in technology to energy efficient LED lighting
  • Most existing installations are being upgraded from old technology to LED
  • Multiple M&A opportunities
  • Commercial building & refit market strong and expected to continue
  • Market has moved to fully importing products (creates issues with specials, short runs and quick turnaround)
  • Industry still has a requirement for local production.
Management Team
  • Sandy Beard - Independent Non-Executive Chairman - Sandy was CEO and MD of CVC Ltd since 2001. CVC is an ASX listed investment company with a market capitalisation of approximately $300M.
  • Con Scrinis - Managing Director - Con has been involved in the electrical and lighting industry for over 35 years. He founded commercial lighting manufacturer Moonlighting in 1991. Moonlighting employed 150 staff with revenues of +$30M. Moonlighting was sold to Gerard Lighting in 2004. He then founded ASX listed Traffic Technologies which had +$100M in revenues.
  • Michael Koutsakis - Sales & Marketing Director - Michael completed his Degree in Electrical and Computing Engineering at Monash University and has been involved in the electrical / lighting industry for over 28 years.
  • Min raise: A$3M
  • Minimum investment: $2,000
  • Approx valuation: A$12M


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