ABN Amro Capital hits the road with transport acquisitions
(19 September 2005 – Australia) ABN Amro Capital has paid A$180 million for two family owned transport businesses, McColl’s Transport and Scott’s Refrigerated Freightways.
ABN Amro Capital Australia director Mark Baldassarre said the acquisitions, both of which began life in the 1950s, would create one of the largest niche road transport and storage services companies in Australia.
Together the companies will have more than 350 movers and 750 tankers and trailers on the road. ABN Amro Capital said the combined companies would provide A$270 million in consolidated revenue in 2006.
"The transaction will allow all stakeholders to jointly share the benefits created through the combination of two of Australia’s leading transport businesses," Baldassarre said.
The acquisitions are the third time ABN Amro Capital has invested in the transport sector after previously injecting equity in kiwi delivery company Freightways and document handling company Ausdoc.
The firm has now committed 40 percent of A$300 million raised in a second private equity buyout fund.
Together the companies will have more than 350 movers and 750 tankers and trailers on the road. ABN Amro Capital said the combined companies would provide A$270 million in consolidated revenue in 2006.
"The transaction will allow all stakeholders to jointly share the benefits created through the combination of two of Australia’s leading transport businesses," Baldassarre said.
The acquisitions are the third time ABN Amro Capital has invested in the transport sector after previously injecting equity in kiwi delivery company Freightways and document handling company Ausdoc.
The firm has now committed 40 percent of A$300 million raised in a second private equity buyout fund.
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