Tuesday 25th January 2022 |
Text too small? |
thl advises that Action Manufacturing has today entered into a conditional agreement to purchase the business and assets of MaxiTRANS in New Zealand (MaxiTRANS) from Australia Trailer Solutions Group New Zealand Limited.
The purchase price is approximately $5.7M and reflects the net asset value of the business. The purchase price will therefore be adjusted to reflect net asset value on completion. It is expected that the conditions will be satisfied in the coming weeks and that the acquisition will complete at the end of February.
MaxiTRANS is a well-established business operating in the heavy transport manufacturing industry under the brands of Maxi-CUBE and Freighter, and employs approximately 50 people. With its current forward book, as a standalone business MaxiTRANS is expected to generate revenue in excess of $18M in the 12 month period ending 30 June 2022.
The transaction will be funded through thl utilising the headroom in its current debt facilities.
thl Chief Executive, Grant Webster, said “we are excited to continue to support Action Manufacturing to grow its non-RV manufacturing activity. MaxiTRANS has a strong forward order book and the acquisition and associated synergies will enable more efficient use of Action Manufacturing’s physical, financial and intellectual property assets. We expect MaxiTRANS to deliver above thl’s internal return on funds employed target.”
Please see the link below for details
NZX Release - thl to acquire MaxiTRANS NZ
Source: Tourism Holdings Limited
No comments yet
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director
CHI - New customer contract to upgrade Marsden Point
Synlait announces changes to Board of Directors
May 1st Morning Report
Devon Funds Morning Note - 30 April 2024
New Rural Advocacy Hub to be launched at Fieldays 2024
Serko signs five-year partnership renewal with Booking.com
NPH - 2024 Half Year Results Announcement Date