Hellaby Holdings’ sale of its equipment group to Maui Capital’s Aqua Fund for $81 million will see the final settlement on September 30, 2016.
Hellaby identified automotive and resource services as its core business groups, and in the past six months announced the acquisition of Premier Auto Trade (PAT) in Australia for the automotive group and TBS Group in New Zealand as part of the resource services group.
“We now have a clear focus on our two core business groups, where we have identified some opportunities to add scale through both organic expansion and acquisition,” says Hellaby chief executive Alan Clarke.
“The majority of the proceeds from the sale of the Equipment Group will adequately fund the purchase of the TBS Group, and we have several other investments that we are actively considering,” says Clarke.
“We are committed to delivering an improved performance through the successful execution of our strategic priorities and our dedicated long-term focus on our core groups,” he says.
