Hellaby Holdings Limited (Hellaby) continues to pursue it acquisition strategy with the the purchase of a truck servicing business and an automotive parts distributor.
Yesterday Hellaby announced that it has purchased the operations of New Zealand Trucks South Island Limited (trading as New Zealand Trucks), a Christchurch-based truck servicing business.
New Zealand Trucks provides maintenance, repair and engineering services to the truck industry. With this acquisition Hellaby is expanding its footprint in the heavy-equipment servicing sector. It also owns AB Equipment which supplies and services materials-handling, forestry and construction equipment across New Zealand.
Hellaby says it has also acquired Auckland-based auto electrical wholesale company, Dasko Marketing NZ Limited (trading as Dasko.
Dasko is a national distributor of auto electrical, fuel and engine management components to repair centres, workshops, auto-parts distributors and retailers. Its product range complements those of Hellaby’s existing automotive distribution businesses including BNT, HCB and Diesel Distributors.
“While these businesses are both relatively small, they are strategically significant and highly complementary to a number of existing Hellaby subsidiaries,” says Hellaby managing director John Williamson.
“we believe that they have strong growth potential, not only because they are good businesses in themselves, but also through the synergies they can achieve with other businesses in the Hellaby group.”
Williamson says the additions of New Zealand Trucks and Dasko have been made at a combined enterprise value of less than $10 million.
