Stenhousemuir have raided their Third Division rivals to sign John Ovenstone from Forfar Athletic and Andrew Brand from East Stirlingshire.
Defender Ovenstone, 25, had been a regular for Forfar since arriving from Alloa Athletic last summer.
Brand, who joined neighbours Shire in 2005, scored 11 times for this season.
Stenhousemuir say that they had "agreed a significant transfer fee" for the striker as he was wanted by a number of other clubs.
He is one of three players leaving Firs Park after refusing new contracts, the others being fellow forward Joe Savage and midfielder Stephen Oates.
Savage also scored 11 times for the Falkirk club after arriving from Arbroath last summer.
The 24-year-old Oates was one of Shire's longest-serving players.
However, Shire have extended Gary Kelly's contract by another year.
Kelly arrived from East Fife last summer, but he has made three unsuccessful attempts to return from a bad injury.
Shire hope he will recover in time for pre-season training.
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