Permanent Capital · Australian Industrial Group

    We hold
    great businesses
    forever.

    Spark Equity is building a permanent-capital Australian industrial group. We acquire good businesses, invest behind their people and capabilities, and compound them over the long term. No fund clock. No forced exit.

    Ownership
    Permanent
    No fund lifecycle. No mandatory exit.
    Home
    Melbourne
    Manufacturing site, Heidelberg West
    Operating businesses
    Ultralift AustraliaHeidelberg West
    Westberg SheetmetalHeidelberg West
    Permanent ownershipNo fund lifecycle. No mandatory exit.
    Operator ledBuilt and run by people who have owned and operated businesses.
    Industrial focusManufacturing, engineering and specialised industrial businesses.
    Operating todayUltralift Australia and Westberg Sheetmetal, Heidelberg West.
    The Spark Philosophy

    We don't flip.
    We compound.

    We believe good industrial businesses create more value through decades of patient ownership than through repeated buying and selling. Spark provides a permanent home, disciplined capital and hands-on operating support, and lets strong businesses stay strong businesses.

    If you have built something over 20 or 30 years, you deserve an owner who intends to hold it for the next 20 or 30.

    No exit timeline

    We hold indefinitely. Your business is not a line on a fund schedule.

    Decentralised operations

    Each business keeps its name, its management and its accountability for results.

    Centralised capital allocation

    Spark decides where the group's capital goes next: equipment, systems, people or the next acquisition.

    How Spark works

    Own. Invest. Hold. Reinvest.

    The model is simple and it does not change from business to business.

    01

    Acquire good businesses

    Durable earnings, capable people and a defensible position in their market. From specialist bolt-ons through to substantial standalone companies.

    02

    Invest for the long term

    People, equipment, systems, automation and capability. The things that make a good business better every year.

    03

    Keep businesses accountable

    Decentralised operating companies run by capable management, with clear reporting and a regular performance cadence.

    04

    Reinvest and compound

    Cash generated across the group goes to the highest-return use, including further acquisitions. Then we do it again.

    For business owners

    You've spent decades building it.
    We intend to own it for decades more.

    Selling to Spark is not the start of a five-year clock. The name stays on the building. Good managers stay in their jobs. Customers deal with the same people. We invest where the business needs it, and we do not force a business to become something it is not.

    The conversation is direct and confidential, and it is with the person who makes the decision.

    ✓Permanent ownership, no resale plan
    ✓Flexible transition on your timetable
    ✓Identity, people and customer relationships stay
    ✓Direct access to Will Strange, Founder and CEO

    Thinking about what comes next?

    No NDA needed to start, no obligation, and we will tell you early if we are not the right home for your business.

    Start a confidential conversationThe questions owners ask us

    Built by an owner.

    Will Strange, Founder and CEO of Spark Equity

    Founder and CEO

    Will Strange

    Will founded Spark Equity to give good Australian industrial businesses a permanent home. Before Spark he built and scaled Sports Performance Tracking from a Melbourne start-up to customers in more than 170 countries and sold a majority stake to a European strategic acquirer. He acquired Ultralift Australia and Westberg Sheetmetal and spends his working week inside the businesses, not above them.

    What Spark brings to a business

    • Capital allocation and finance
    • Manufacturing and engineering
    • Sales and commercial leadership
    • Technology, systems and automation
    • Acquisitions and integration
    The Spark Philosophy
    "Australian manufacturers spend decades building something worth keeping. We are the owner who treats it that way."
    Will Strange · Founder and CEO, Spark Equity
    Capital partners

    Long-duration capital for long-duration ownership.

    Spark is building a permanent-capital industrial group alongside a small number of aligned, long-duration capital partners. The model combines operating ownership, disciplined acquisition and reinvestment. It does not rely on a forced exit.

    Partner with Spark

    Get in touch.

    Whether you own a business and are thinking about what comes next, you advise someone who is, or you are a capital partner who wants to understand the model, the first conversation is with Will.

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