New Zealand operated heavy equipment suppliers AdvanceQuip and MIMICO have entered into an unconditional acquisition agreement.
The deal will see MIMICO secure the distribution rights to AdvanceQuip’s construction equipment sales and support business.
This includes the Case Construction range of heavy machinery, ASV Posi-Track and Skid Steer Loaders and the Astra off-road vehicle range.
“A significant number of AdvanceQuip staff will also be integrated into the MIMICO branches across Auckland, Matamata, Paraparaumu, and Christchurch.
“We are grateful to bring new talent and skills into the MIMICO family,” the company says.
MIMICO will also be acquiring AdvanceQuip’s existing Gore facility and support staff, expanding the MIMICO footprint in the Otago/Southland region.
“This ensures some continuity and familiar faces for AdvanceQuip customers in this region,” it says.
The expected settlement date for the deal is November 24, 2023.
MIMICO says it will be in touch with existing customers of the brands to share relevant contact information and trading requirements.
Meanwhile, family-owned AdvanceQuip also thanked its customers and partners in a company update.
“The McLean family, along with the wider AdvanceQuip team, would like to take a moment to sincerely thank you for your unwavering support over the past 19 years.
“We sincerely appreciate that you have put your confidence in us. It has been a somewhat wild, although enjoyable ride and we look forward to seeing the CASE, ASV and ASTRA brands go from strength to strength under the tutelage of another fantastic, Kiwi-owned, family business.”
