Sweett is setting aside a £3m charge against its Australian business in upcoming results and has now decided to offload its operations across the region.
A strategic review of the business has resulted in a focus on the higher-growth UK and Europe divisions at the expense of the Asia Pacific (APAC) arm.
Sweett said: “The review concluded that the UK and European businesses, which have strong market positions and financial dynamics, should be the central pillars of the Group’s growth strategy.
“It has also been decided that a buyer should be sought for the Group’s APAC business who is better able to maximise the significant opportunities for growth available to the business.
“This remains at an early stage but we have commenced discussions with a number of interested parties.
“Proceeds of the sale would be used to pay down Group debt and provide capital to expand our core profit centres in the UK and Europe and sustainable growth in North America.”
UK and Europe accounts for approximately 55% of group revenues and 46% of the group order book.
Sweett is also slimming down its Middle east business to concentrate on the UAE.