Fleetwood

What Fleetwood does

Fleetwood Limited (ASX: FWD) is an ASX-listed Australian industrial company founded in 1964, operating two core segments following the September 2026 divestment of its RV Solutions division. Building Solutions is the largest Australian-owned and operated vertically integrated off-site modular manufacturer, designing, engineering, manufacturing, and installing permanent and relocatable modular buildings across education, housing, government, commercial, mining, health, defence, sport, tourism, custodial, and aged care sectors from seven manufacturing facilities spanning Victoria, NSW, Queensland, South Australia, and Western Australia. Community Solutions builds, owns, and operates accommodation villages and affordable housing — notably Searipple Village (1,250+ rooms, Karratha WA) and Osprey Village (293 dwellings, South Hedland WA) — generating recurring revenue from transient workforce and affordable housing operations, supported by the proprietary Glyde Digital IoT platform deployed across 622+ rooms. Building Solutions also includes the proprietary CellPOD modular detention cell system, delivered through a partnership with a global leader and certified to ASTM F2322-03, with over 20,000 units installed worldwide.

Revenue is generated through project-based modular construction contracts (quote-based, multi-year government panels and enterprise procurement) and recurring managed-services revenue from owned-and-operated accommodation villages. The customer base is concentrated in government, education, mining & resources, and housing developers, with named anchor customers including BHP, Rio Tinto, Tronox, Housing Authority Western Australia, Victorian School Building Authority, NSW Department of Justice, Queensland Department of Education, and Lendlease. Distribution combines direct enterprise field sales for Building Solutions, government panel supplier status (QBuild MMC, Homes NSW MMC, VSBA) for public-sector flow, and direct enterprise sales for Community Solutions villages.

In FY25 (year ending 30 June 2025), Fleetwood reported revenue of AUD $505.2M (up from $419M+ in FY24), underlying EBIT of $37.7M, NPAT of $14.6M, free cash flow of $27M, and a fully franked full-year dividend of 25.0 cps. The group employs 650+ people across Australia and New Zealand, holds ISO 9001/14001/45001 certifications, and is led by CEO Andrea Pidcock (appointed February 2026). The September 2026 sale of RV Solutions (including the Camec brand) to Aussie Traveller Pty Ltd for $9.5M is intended to streamline the portfolio around the two core divisions, with $10-12M of restructuring costs expected across FY26-FY27.

Name

Fleetwood

Legal name

Fleetwood Limited

Website

https://fleetwood.com.au

Company type

Public

Founded year

1964

Operating status

Operating

Headcount range

251–500 employees

Short description

Fleetwood Limited (ASX: FWD) is Australia's largest Australian-owned vertically integrated off-site modular construction company, operating Building Solutions and Community Solutions segments to design, manufacture, and install permanent and relocatable buildings, plus build-own-operate accommodation villages for government, mining, education, and housing clients nationally.

Ownership category

akta.pro rank

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices12 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Building Solutions - Modular Construction: Design, engineering, manufacturing, and installation of permanent modular and relocatable buildings across education, housing, government, commercial, mining, health, defence, sport, tourism, custodial and aged care sectors. Revenue recognized from project-based construction contracts.
2. Community Solutions - Accommodation Villages: Build, own, and operate accommodation villages and affordable housing. Fleetwood operates Searipple Village (1,250 rooms) and Osprey Village (293 rooms), generating recurring revenue from accommodation services for mining, resources, and government sectors.
3. RV Solutions - Parts and Accessories (Camec): Leading supplier of recreational vehicle and caravan components through online store, retail outlets, and stockists across Australia and New Zealand. Revenue from aftermarket RV parts, accessories, and camping supplies serving RV owners, manufacturers, and the wider industry.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

Fleetwood is Australia's largest owned and operated vertically integrated off-site modular building manufacturer and solutions provider. Through three business segments — Building Solutions, Community Solutions, and RV Solutions (Camec, being divested) — the company designs, engineers, manufactures, installs, owns and operates modular buildings, accommodation villages and affordable housing across Australia and New Zealand. The company also distributes RV and caravan parts and accessories via the Camec brand.

Product overview

Fleetwood is an Australian ASX-listed company (established 1964) operating three core business segments: Building Solutions (Australia's largest owned and operated off-site manufacturer and modular building solutions company), Community Solutions (builds, owns and operates accommodation villages and affordable housing), and RV Solutions (RV and caravan parts via the Camec brand — divested September 2026). The Building Solutions division spans modular construction across sectors including education, housing, defence, commercial, mining, health, custodial, and government, with national manufacturing facilities across VIC, NSW, QLD, SA, and WA. Community Solutions operates flagship villages — Searipple Village (Karratha, 1,300+ rooms) and Osprey Village (South Hedland, 293 dwellings) — alongside the proprietary Glyde Digital IoT technology platform. Building Solutions also includes the proprietary CellPOD modular detention cell system. All three divisions share the 'One Fleetwood' unified culture and operate from shared national infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• Camec: Leading supplier of recreational vehicle and caravan components, parts and accessories with online store, retail outlets and stockists across Australia and New Zealand.
• Searipple
• Osprey
• Glyde Digital
• CellPOD

Products and services

• Building Solutions (Modular Construction) Fleetwood's flagship modular construction division and Australia's largest owned and operated off-site manufacturer and modular building solutions company. Delivers innovative, sustainable modular buildings across education, housing, government, commercial, mining, health, defence, sport, tourism, custodial and aged care sectors via in-house design, engineering, manufacturing and installation across seven national facilities.
• Community Solutions (Accommodation Villages and Affordable Housing) Partners with commercial, community and government organisations to build, own and operate accommodation villages and affordable housing across Australia. End-to-end accommodation solutions for mining, resources and government sectors, including flagship Searipple Village (1,250 rooms) and Osprey Village (293 dwellings).
• Searipple Village Multi-award winning transient workforce accommodation village in Karratha, Western Australia, built and operated by Fleetwood. Set upon 15 hectares with over 1,300 rooms offering queen and king single rooms with ensuites, gymnasium, two swimming pools, football field, basketball court, three dining facilities and a licensed tavern.
• Osprey Village Affordable housing village in South Hedland, Western Australia, providing 293 high-quality dwellings with one, two and three bedroom houses. Joint initiative between the Government of Western Australia Housing Authority, Royalties for Regions and Fleetwood, now owned by the Housing Authority and operated by Fleetwood.
• Glyde Digital IoT Platform Fleetwood's proprietary IoT technology platform designed to make accommodation smarter and more convenient. Transforms guest and staff transactions from physical to digital exchange, enabling contactless room check-in and access using smartphones. Operates in over 622 rooms at Searipple Village.
• CellPOD Modular Detention Cell System Fleetwood's proprietary modular detention cell system, delivered in partnership with a world leader in modular detention cell systems. Over 20,000 modular detention cells installed worldwide. Certified for maximum security inmates, passed ASTM F2322-03 physical assault testing, exceeding concrete cell performance.
• Modular Education Buildings Fleetwood's modular school and classroom solutions serving education departments and schools nationally, offering both permanent modular and relocatable buildings. Provides faster construction, cost savings and minimal disruption compared to traditional building methods.
• Modular Housing Developments Modular residential housing solutions including social housing, workforce villages, lifestyle villages, park homes and holiday chalets, serving government, institutional and corporate developers. Designs meet silver-level Liveable Design Guidelines ahead of National Construction Code amendments.
• Modular Defence Buildings Modular infrastructure for Australia's defence sector including accommodation, support facilities and training spaces designed for rapid deployment in remote areas, ensuring compliance and high performance with superior thermal efficiency.

Quantifiable outcome

• Up to 50% faster construction compared to traditional building methods
• +5 more outcomes

Named customers17 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

17 partnerships are on record, tiered core, major and minor.

• BHPcoreStrategic or Co-development Partner · 25 September 2025Fleetwood announced as modular building partner for BHP's Smelter Campaign projects at Olympic Dam, providing modular accommodation and supporting infrastructure.
• Aussie Traveller Pty LtdcoreStrategic or Co-development PartnerFleetwood agreed to sell its RV Solutions division including Camec business to Aussie Traveller Pty Ltd for $9.5 million in a cash-free, debt-free transaction scheduled to close on September 1, 2026. This divestiture is part of Fleetwood's strategic focus on Community Solutions and Building Solutions divisions.
• QBuild (Queensland Government)coreStrategic or Co-development PartnerFleetwood is a recognised supplier in QBuild's Modern Methods of Construction (MMC) program designed to build more and better-quality homes efficiently in regional and remote areas of Queensland.
• Homes NSWcoreStrategic or Co-development PartnerFleetwood is on the NSW MMC (Modern Methods of Construction) panel as approved building providers for permanent social homes, delivering quality faster and more efficiently through prefabrication.
• FRAMECADmajorTechnology or IntegrationPartnership with FRAMECAD significantly enhancing manufacturing capabilities for steel framing in modular construction operations.
• Modular Building Institute (MBI)majorStrategic or Co-development PartnerInternational non-profit trade association serving modular construction. Fleetwood works with MBI to promote offsite construction through innovative practices, outreach, education, and recognition of quality modular designs.
• PrefabAUSmajorStrategic or Co-development PartnerPeak body for Australia's off-site construction industry. Fleetwood has worked with prefabAUS since its inception to advance prefabrication in Australian and global building industry. Partner in Challenge Cup inter-university design competition.
• CAMP.H (Australian Research Council Training Centre)majorStrategic or Co-development PartnerFleetwood has partnered with CAMP.H program administered by University of Melbourne over the past two years. Centre focused on growing prefabricated construction within Australia's industry striving for breakthrough product and process innovations.
• Curtin University - Legacy Living Lab (L3)minorStrategic or Co-development PartnerCircular economy building developed by Curtin University researchers for Development WA. Fleetwood donated steel frames, contributed drafting time, and served as principal builder. Project demonstrated reduce, re-use, recycle principles.
• Supply NationminorStrategic or Co-development PartnerFleetwood partnered with Supply Nation as part of Reconciliation Action Plan to develop procurement policies and supplier diversity, redirecting spend to include Indigenous business sector.
• Property Council of Australia (NSW)minorGTM or Marketing PartnerLeading national industry body for property and construction sectors. Fleetwood partnership supports industry growth, sustainability, housing affordability, cities and infrastructure advocacy.
• National Association of Women in Construction (NAWIC)minorGTM or Marketing PartnerAustralian not-for-profit organisation helping women in construction. Fleetwood membership supports networking, industry development, skills improvement, and contribution to women in the industry.
• Chamber of Minerals and Energy of Western Australia (CME)majorGTM or Marketing PartnerPeak resources sector representative body. Fleetwood membership allows staying abreast of latest mining and resources industry trends, policy development, and community value promotion.
• Committee for Economic Development of Australia (CEDA)minorGTM or Marketing PartnerCEDA delivers leading thinking on Australia's economic and social development. Fleetwood membership supports debate, research, and informed discussion on public policy affecting operations.
• Housing Industry Association (HIA)minorGTM or Marketing PartnerIndustry's unified voice with 60,000+ members including builders, developers, trade contractors, manufacturers, and suppliers. Fleetwood membership provides access to 20,000+ member businesses network.
• International Corrections and Prisons Association (ICPA)minorGTM or Marketing PartnerPromotes policies and standards for humane and effective correctional practices. Fleetwood association demonstrates commitment to manufacturing correctional facilities supporting human rights and dignity.
• Veterans' Employment ProgramminorOthersFleetwood signed Veterans' Employment Commitment, recognising value of ex-ADF members and encouraging employment opportunities for those who served.

Scale indicators21 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Ausco Modular: Australian modular building company (owned by Sekisui House) providing relocatable and permanent modular buildings for education, construction, mining, and government sectors. Most direct domestic competitor to Fleetwood Building Solutions with overlapping product offerings and customer segments.
• Hickory Group: Australian modular construction company specialising in off-site prefabricated building systems for commercial, residential, healthcare, and education sectors. Direct competitor in the Australian modular building market with similar technology-led approach and customer segments.
• Modscape: Australian modular construction company designing and manufacturing prefabricated buildings for residential, commercial, education and healthcare applications. Direct competitor with overlapping product offerings and Australian customer base.

Broad incumbents

• ATCO Group: Canadian-based diversified corporation with significant modular structures and workforce accommodation operations globally including Australia. Directly comparable to Fleetwood's Community Solutions accommodation village business, with both companies operating large workforce camps for mining and resources sectors.
• Algeco: European leader in modular space solutions providing prefabricated buildings for construction, education, healthcare and commercial sectors globally. Comparable business model and product offering to Fleetwood's Building Solutions, though operating at much larger international scale.
• CIMC Modular Building: Subsidiary of China International Marine Containers (CIMC Group), one of the world's largest modular building manufacturers serving global markets. Operates at much larger scale than Fleetwood and represents both a competitive threat and benchmark for modular construction industry development.
• Portakabin: UK-based modular building manufacturer providing permanent and relocatable modular buildings for education, healthcare, commercial and public sectors. Comparable in product offering to Fleetwood Building Solutions with established international presence and similar focus on quality certifications.
• WillScot Mobile Mini: North American leader in modular space and portable storage rental with significant presence in commercial, industrial, and education markets. Provides comparable modular building solutions to Fleetwood but operates predominantly in US, Canada and Mexico with rental-based business model.

Emerging players

• Waco International: Australian-based company providing modular building, scaffolding, and formwork solutions with significant presence in commercial and infrastructure sectors. Partial overlap with Fleetwood's Building Solutions division, particularly in commercial modular applications.

Regional players

• Kwikspace: South African modular building manufacturer providing prefabricated buildings for residential, commercial, mining and education sectors across Africa. Comparable product offering and similar customer segments to Fleetwood (particularly mining accommodation) but operating in different geographic markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

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• Instagraminstagram.com/fleetwoodaustralia
• Xx.com/FleetwoodAus

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fleetwood