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Shape Executive · Private Equity & Due Diligence

Operational insight
for PE firms in the industrials space.

Scott Foster brings 25 years of operating experience inside PE-backed, founder-owned, and publicly listed industrial businesses — giving PE firms a credible, hands-on resource for commercial and operational due diligence.

Why Operators Beat Consultants in DD

Real operational
intelligence.

Management consultants can benchmark. Former operators know when a management team is sandbagging the forecast, when inventory levels don't match the working capital story, and when a branch network is masking structural underperformance.

Scott has run businesses across industrial distribution, manufacturing, and B2B services with full P&L accountability from AUD 30M to AUD 110M. He's been on the sell side of a PE process and knows how the story gets constructed. That makes him uniquely effective on the buy side.

Due diligence
DD Capabilities

Where Scott adds
the most value.

01

Commercial Due Diligence

Revenue quality, customer concentration, channel dynamics, pricing power, and competitive positioning — assessed by someone who has lived these markets, not modelled them.

02

Operational Due Diligence

Site visits, branch P&L review, inventory assessment, supply chain resilience, manufacturing productivity, and workforce structure. Scott has managed 14 branches across ANZ and 12 APAC countries.

03

Management Assessment

Evaluating whether the leadership team can execute the post-acquisition value creation plan — or whether gaps need to be filled before or after completion.

04

EBITDA Quality & Normalisation

Stress-testing management's EBITDA claims — identifying add-backs that won't hold, cost items that will recur, and revenue that is non-repeatable.

05

Working Capital Analysis

Inventory, debtors, payables — assessed against industry norms and the specific operating model. Scott improved stock turns from 2.3x to 6.0x at Surface Squared and reduced inventory by AUD 3.3M at Dotmar.

06

100-Day Plan Development

Post-acquisition value creation planning — from quick wins in working capital and procurement to medium-term revenue growth and operational restructuring.

“I've been inside the data room, run the management presentations, and operated the businesses afterwards. I know where the bodies are buried — and more importantly, where the value is hiding.”Scott Foster — Founder, Shape Executive
Industrials Expertise

Deep sector knowledge
across the industrials landscape.

Industrial Distribution

14 branches, AUD 93M revenue, 60% market share. Engineering plastics, fasteners, and specialty materials across ANZ.

Building Materials

Vinyl flooring, commercial laminates, and interior surfaces. Major retail accounts including Bunnings, Woolworths, and ALDI.

Industrial Manufacturing

PVC pipe, mine ventilation, industrial ducting, and steel reinforcement. Segment relationships with BHP, Glencore, and Byrnecut.

B2B Services & Distribution

Multi-site distribution, import and wholesale businesses, with supply chains spanning Europe, Asia, and the US.

AUD 110MLargest Business Operated
60%Market Share — Dotmar ANZ
300%EBITDA Expansion — Polyflor AU
12Countries Across APAC
Engagement Models

How PE firms
work with us.

Project-Based DD Support

Engaged for a specific transaction — commercial and operational DD on a defined target, delivered within the deal timeline. Works alongside your financial advisors and legal team.

Retained Industrial Advisor

An ongoing relationship — reviewing pipeline targets in the industrials space, providing sector intelligence, and offering operational perspective on live portfolio businesses.

Post-Acquisition Operating Partner

Embedded alongside the management team post-completion — executing the 100-day plan, stabilising performance, and accelerating the value creation agenda.

Management Assessment

A standalone engagement to assess the incumbent management team against the proposed value creation plan — with clear recommendations on structure, gaps, and retention risk.

“As MD for APAC, Scott consistently demonstrated superb strategic planning — translating complex objectives into clear, actionable roadmaps with measurable outcomes across diverse markets.”

James Hayward

CEO — Carpet Court Australia

Nine-year customer relationship; FCIA Board colleague

Looking for an industrials DD specialist?

Let's discuss how Shape Executive can support your next transaction.

Get in Touch