Coventry Group, an Australian industrial parts supplier, acquires Steelmasters Group, a NZ-based metal fasteners manufacturer, for A$42m.
Coventry Group, an ASX-listed Australian industrial parts supplier, plans to acquire Steelmasters Group, a NZ-based metal fasteners manufacturer, for A$42m. Funding includes a NAB debt facility and A$25m in capital. The acquisition, which follows an oversubscribed A$27m capital raise, aims to establish Coventry as NZ's market leader and benefit from its economic recovery. Coventry has reported a 5.4% increase in group sales to $185.3m.
April 15, 2024
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