Hellaby Holdings’ subsidiary New Zealand Trucks has acquired Diesel & Machinery Services (DAMS), a Waikato-based company which provides maintenance, repair and engineering services to the truck industry.
Hellaby has also unconditionally agreed to purchase Melbourne-based JAS Oceania, an Australian national distributor of auto electrical, automotive air conditioning and lighting components to repair centres, workshops, automotive parts distributors and retailers. On June 1, JAS Oceania will become part of Hellaby’s Automotive division.
Hellaby managing director John Williamson said the total value of the two acquisitions was less than NZ$25 million, and they were being funded through existing group debt facilities.
The businesses have combined annual revenues of around NZ$50 million.
Williamson says: “Both these businesses are strategically significant and complementary to existing subsidiaries. Not only are they very good businesses in themselves, but they will also add further value to Hellaby through the synergies they will achieve with other businesses in the group.”
“DAMS will significantly strengthen New Zealand Trucks’ ability to service customers in the upper North Island. It brings strong customer relationships and an excellent workshop facility to the business, and will continue to be led by one of the vendors.”
Williamson says that Hellaby is continuing to seek value-accretive acquisition and divestment opportunities.
