Henslow advises Advanced Innergy Holdings (ASX:AIH) on proposed acquisition of Matrix Composites & Engineering (ASX:MCE)
Henslow is acting as financial adviser to Advanced Innergy Holdings Ltd (ASX:AIH) on its proposed acquisition of Matrix Composites & Engineering Ltd (ASX:MCE) by way of a Scheme of Arrangement
Under the Scheme, AIH has agreed to acquire 100% of MCE at $0.40 cash per share, representing a 66.7% premium to MCE’s undisturbed closing price on 30 March 2026, being the last trading day prior to announcement of MCE’s receipt of a non-binding indicative proposal from AIH. The Offer Price also represents premiums of 62.5%, 63.6% and 68.0% to MCE’s 5-day, 30-day and 90-day undisturbed VWAPs respectively. AIH has declared the Offer Price as best and final, in the absence of a superior competing proposal.
The MCE Board unanimously recommends that MCE shareholders vote in favour of the Scheme, in the absence of a Superior Proposal and subject to the Independent Expert concluding (and continuing to conclude) that the Scheme is in the best interests of MCE shareholders. AIH and MCE are targeting implementation of the Scheme in late July 2026, subject to MCE shareholder approval, court approval, FIRB approval and other customary conditions being satisfied or waived.
AIH is a global leader in materials science technology for the protection of critical infrastructure. It develops, manufactures and installs high performance solutions used in hazardous and highly regulated environments. Its products are trusted across mission critical energy, emerging technology, transport, marine, defence and industrial applications. AIH holds over 200 granted and pending patents and over 90 active type approvals globally. The Group operates across 15 countries and employs approximately 800 staff.
AIH listed on the ASX in October 2025 following a $150m IPO, on which Henslow acted as Corporate Adviser and Joint Lead Manager. The proposed acquisition of MCE is AIH’s second acquisition since listing, following the acquisition of Imenco Aqua in March 2026.
MCE is an ASX-listed specialist in the design, engineering and manufacture of composite and advanced material technology solutions for the oil and gas, civil and infrastructure, resources, defence, and transportation industries. With more than 20 years of experience, MCE is a major exporter of Australian goods and services, operating from its award-winning head office in Australia, offices in the United States, and a global customer network.
The proposed transaction represents a further step in Henslow‘s strategic advisory relationship with AIH. It extends AIH’s technical buoyancy and subsea ancillaries platform and establishes its manufacturing presence in the Asia-Pacific region.
The mandate demonstrates Henslow‘s ability to support ASX-listed clients across the full transaction lifecycle, from capital markets execution through to public market M&A, including scheme of arrangement processes.
The Henslow team is led by Chris Tait (Managing Director), supported by George Fry
