Hastie expands regional coverage with bolt-on acquisitions

19.11.09

Hastie Group Limited, the leading international building services and refrigeration systems group, has expanded its coverage of the northern Queensland and northern New South Wales markets with two acquisitions, increasing its recurring revenue base.

The businesses have combined revenue of approximately $35 million and employ more than 100 service technicians. The combined initial purchase price, paid in cash, represents an average EBIT multiple of 2.8x, with the opportunity for further performance-based earn-out payments over two years.

>> Click here to view complete (PDF).

Back to 2009 News