Scalare Partners (ASX: SCP), a company that empowers visionary technology founders to transform their ideas into the great businesses of tomorrow by offering products and services to support founders as they scale their early-stage businesses, has announced an agreement to acquire 100% of Tank Stream Labs (TSL). Tank Stream Labs is a leading provider of flexible office space and business services tailored for Australia’s technology sector. The acquisition is valued at $5.5 million and aims to deepen Scalare’s engagement with technology founders and the wider early-stage tech community.
Tank Stream Labs, led by CEO Bradley Delamare, operates five strategically located facilities in Sydney and additional offices in Melbourne and Adelaide. Tank Stream Labs is expected to generate approximately $15 million in revenue and be EBITDA and cashflow positive in FY26. Under the terms of the acquisition, Bradley Delamare will remain in his role and lead future growth initiatives. Scalare Partners CEO Carolyn Breeze stated the acquisition marks a significant milestone for Scalare and aligns with their mission to empower technology entrepreneurs.
The consideration of $5.5 million includes a combination of escrowed ordinary shares in Scalare Partners, an upfront cash payment, and deferred consideration tied to meeting FY26 profit milestones. The transaction is structured with $3.0 million in cash payable on completion (subject to capital raising), $1.5 million in Scalare shares issued on completion (subject to shareholder approval and escrowed until November 14, 2026), and $1.0 million in deferred consideration payable upon achieving net profit before tax targets for the financial year ending June 30, 2026.
The acquisition is subject to shareholder approval for the related capital raise, with a shareholder meeting scheduled for on or about August 25, 2025. Scalare expects the acquisition to enhance its investment decisions in early-stage technology companies by embedding itself more deeply within the startup ecosystem. The company plans to provide further updates as the integration progresses.