My Store:
Change Store
  • MaxiPARTS Limited Announces Two Acquisitions

MaxiPARTS Limited Announces Two Acquisitions

MaxiPARTS Limited (ASX: MXI) today announces that it has entered into a binding agreement to acquire 100% of the issued capital of Nineteen Group Pty Ltd and its wholly owned subsidiary, Independant Parts Pty Ltd (IP) for $27.0 million cash, subject to customary working capital adjustments. The Company also announces that Förch Australia will acquire Förch Brisbane for $1.9 million, to be jointly funded by MaxiPARTS and minority shareholders of Förch Australia.

The acquisitions are strongly aligned with MaxiPARTS Limited strategic M&A criteria and are highly complementary to the existing operations.

Independant Parts Pty Ltd (IP) is a leading privately owned commercial truck and trailer parts distribution company operating in Western Australia with over 450 customers and four strategically located regional retail sites in Perth, Port Hedland, Geraldton, and Bunbury. IP offers a comprehensive range of products, including transmissions and differentials, drivelines, brake parts, trailer parts, general truck parts, and accessories. Serving a diverse customer base that includes major transport and mining companies, truck dealerships, and small independents, the addition of IP significantly enhances MaxiPARTS' presence in Western Australia, adding three additional stores post-consolidation and establishing strong partnerships with key national logistics and mining customers in critical mining regions, including the Goldfields and Pilbara mid-west region.

MaxiPARTS Managing Director and CEO, Peter Loimaranta, expressed his enthusiasm for the acquisition, stating, "The acquisition of IP is an exciting step forward in the expansion of MaxiPARTS and is fully aligned with our stated acquisition criteria."

Importantly, all employees at IP will remain with the business, ensuring a smooth transition and uninterrupted service to valued customers. Legal entity details will remain unchanged, simplifying the transition process for stakeholders.

The acquisition of Förch Brisbane is a 100% asset acquisition, including inventory, fixed assets, intellectual property, and employees. This acquisition consolidates the Förch Australia distribution model and establishes a third warehouse facility in Brisbane, alongside existing locations in Perth and Melbourne.

Completion of both acquisitions are subject to customary conditions. No shareholder or regulatory approvals are required, and there will be no changes to MaxiPARTS Limited's Board or Senior Management as a result of these transactions. The acquisitions are anticipated to be completed by the end of the calendar year 2023.

Further updates and communications regarding these transactions as they progress toward completion.

About MaxiPARTS Limited:

MaxiPARTS Limited (ASX: MXI) is a leading company operating within Australia’s automotive and commercial vehicle sector. Its product range includes commercial vehicle parts for trucks and trailers, automotive supplies, and workshop consumables, catering to a diverse customer base across several industries. MaxiPARTS Limited owns brands MaxiPARTS and Förch Australia.

About MaxiPARTS:

MaxiPARTS is one of Australia’s leading independent commercial vehicle parts distribution companies, with 27 sites located across Australia, and a commitment to providing customers with high-quality products and exceptional customer service.

About Independant Parts Pty Ltd (IP):

Independant Parts Pty Ltd (IP) is one of the largest privately owned truck and trailer parts companies operating along the West Coast of Australia. The company serves a diverse customer base, including major transport and mining companies, truck dealerships, and small independents, and is known for its commitment to expertise and service excellence. IP’s products include transmissions and differentials, drivelines, brake parts, trailer parts, general truck parts, and accessories.

About Förch Australia:

Förch Australia is one of Australia’s leading direct selling companies of workshop consumables, predominately focused on automotive and commercial vehicle workshops and holds an exclusive Australian distribution agreement for all FÖRCH product with Theo FÖRCH GmbH & Co KG of Germany.

Media Contact:

Brooke Vulinovic
Group Marketing & E-Commerce Manager | MaxiPARTS Limited
+61 422 395 757

Products to compare:
Comparing Products