Scalare Partners to buy Tank Stream Labs for $5.5m, launches capital raise
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The news: ASX-listed tech investment and advisory firm Scalare Partners has agreed to acquire tech-focused workspace and business service provider Tank Stream Labs for $5.5 million.
Scalare plans to raise between $3 million and $5 million to support the acquisition and future growth activities.
The numbers: The acquisition consideration consists of $3 million in cash and $1.5 million in ordinary Scalare shares that would be paid on completion of the deal.
A further $1 million in deferred consideration will be half paid in cash and half in Scalare shares if the company achieves the net profit before tax target of $1.14 million for the 2026 financial year.
The context: The deal will add seven co-working locations – housing over 200 companies – to Scalare’s portfolio and Tank Stream Labs chief executive Bradley Delamare will remain in his role.
Scalare said it will leverage the Tank Stream Labs’ existing startup community engagement to enhance its deal flow.
Scalare’s shares entered a trading halt this morning. The deal is expected to be completed after shareholder approval of the related capital raise is secured on or around 25 August.
What they said: “Tank Stream Labs has built a great reputation as an incredible assistance to tech founders as they grow their businesses. This aligns perfectly with our mission of supporting technology founders at every stage of their journey,” Scalare Partners chief executive Carolyn Breeze said.
“Bradley Delamare is an absolute asset to the startup ecosystem, and we look forward to working with him and the Tank Stream team to drive even greater impact in the technology ecosystem.”
Tank Stream chief executive and founder Bradley Delamare said the deal is a “natural evolution” for his company.
The sources: ASX, Scalare Partners media release
