Kwikform entities enter administration as sale efforts stall

Nine entities within the Kwikform group, a major supplier of scaffolding and formwork services across Australia and New Zealand, entered voluntary administration on 7 April 2026, with Melissa Smith, Damien Pasfield, and Jason Preston of McGrathNicol appointed as administrators.

The appointments follow an extended period of financial pressure and an incomplete sale process, with management unable to finalise transactions for various business units before liquidity constraints forced a formal insolvency process. The administrators have indicated that the appointment is intended to preserve value while providing additional runway to complete restructuring or sale initiatives already underway.

Kwikform operates as part of the broader Waco International group and trades under several brands, including Waco Kwikform, Star Scaffolds, and United Scaffolding Group. The business provides scaffolding, shoring, and formwork solutions to large-scale infrastructure, commercial, and industrial projects, and has been involved in high-profile developments across multiple Australian states, as well as major events infrastructure.

The group maintains a significant operational footprint, with approximately 23 sites across Australia and New Zealand, supporting a workforce of more than 650 employees. Its services span the hire, sale, and manufacture of temporary works equipment critical to construction activity, positioning the business as a key supplier to major contractors and project owners.

Financial results point to a sharp deterioration in performance leading into the appointment. The group reported revenue of approximately $148 million in its most recent financial year, but recorded a loss exceeding $10 million, reversing a profit position from the prior year.

Against that backdrop, management had been pursuing parallel sale processes for a number of business units in an effort to stabilise the group’s capital structure and reduce leverage. While those processes were described as advanced, delays in execution and broader market conditions ultimately prevented completion, prompting the decision to appoint administrators.

The administrators are continuing to trade the businesses on a going-concern basis while urgently assessing options for recapitalisation or a sale of all or part of the group. That process is expected to build on the existing sale efforts, with a focus on preserving jobs and maintaining continuity of service across active projects.