The Brief:
Advanced Innergy Holdings has signed a Scheme Implementation Deed to acquire Matrix Composites & Engineering at $0.40 cash per share.
MinterEllison advises AIS; Gilbert + Tobin acts for Matrix.
Advanced Innergy Holdings (AIS) listed on the ASX in October 2025 with one goal: build a leading technical buoyancy and subsea ancillaries platform.
Six months later, it’s made its move.
The deal
AIS has signed a Scheme Implementation Deed to acquire Matrix Composites & Engineering. The all-cash offer sits at $0.40 per share — a 66.7% premium to Matrix’s undisturbed close on 30 March 2026.
Matrix is an Australian engineering and advanced materials business serving the energy, resources and defence sectors. Under the scheme, 100% of Matrix moves into private ownership, with shareholders receiving cash certainty at close.
The parties are targeting implementation in late July 2026, subject to FIRB approval, shareholder sign-off and court approval.
Who’s acting
MinterEllison advises AIS, led by Matthew Hibbins and Keith Tan, with support from Bart Oude-Vrielink, Jarrod Sherwin and Mary Liu, alongside specialists across tax, FIRB, corporate and competition.
The mandate is a continuation of MinterEllison’s relationship with AIS, having also steered the company’s ASX listing in October 2025.
Gilbert + Tobin acts for Matrix, with partner Simon Rear leading a Perth-based corporate advisory team including Ryan Gava, Adam Sibum, Rachael Griffiths-Szeto and Sophia Spadanuda, backed by the firm’s competition and tax specialists.
What they said
Matthew Hibbins said:
“Having advised AIS on its ASX listing last year, it’s been a pleasure to continue supporting the company as it executes on its growth strategy. This transaction represents a natural next step and underscores AIS’s considered and strategic approach to expansion, with a clear focus on enhancing its market position and capabilities.”
Simon Rear said:
“This deal gives Matrix shareholders certainty and positions the business for its next chapter. It also reflects the continued demand for high-quality industrial platforms with strong technical capability and strategic relevance. We are pleased to have supported Matrix through a strategic process to reach this agreement.”
Source: MinterEllison, Gilbert + Tobin