Royal Wolf to buy ContainerTech to expand in NZ

Royal Wolf Holdings, the ASX-listed container services firm that won an award for its initial public offering last year, has agreed to buy the container business of Auckland-based ContainerTech Group.

No price was disclosed for the transaction in Royal Wolf's statement to the ASX. ContainerTech has a fleet of about 500 hire containers and the acquisition will lift Royal Wolf's earnings immediately, it said.

Shares of Royal Wolf last traded on the ASX at A$2.11. The shares were issued at A$1.83 and began trading in May last year.

Its A$91 million share sale won an IPO of the Year award from FinanceAsia, selling at 14.1 times 2011 earnings, compared to a sector average of 11.4 times, according to the company's website.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

POT Financial Results for the year to 30 June 2025
MOVE FY25 Results for the year ended 30 June 2025
BPG - Completion of Retail Offer
Comvita releases results for the year ended 30 June 2025
August 29th Morning Report
Air New Zealand announces 2025 financial result
August 28th Morning Report
VSL - 2025 date of Annual Meeting of shareholders
WIN - Winton announces FY25 Annual Results
Meridian Energy Limited 2025 Full Year Financial Results