Merger • Manufacturing

Hastie Group Services Pty Acquires Austral Refrigeration Pty

On March 9, 2004, Hastie Group Services Pty acquired manufacturer Austral Refrigeration Pty from Pemba Capital Partners

Acquisition Context
  • This is Hastie Group Services Pty’s 1st transaction in the Manufacturing sector.
  • This is Hastie Group Services Pty’s 2nd transaction in Australia.

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M&A Deal Summary

Date March 9, 2004
Target Austral Refrigeration Pty
Sector Manufacturing
Buyer(s) Hastie Group Services Pty
Sellers(s) Pemba Capital Partners
Deal Type Merger

Target Company

Austral Refrigeration Pty

Silverwater, Australia
Austral Refrigeration Pty Ltd. is a manufacturer of commercial refrigeration for supermarkets and convenience stores.
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Buyer Overview 1

Buyer

Hastie Group Services Pty

Homebush Bay NSW, Australia

Category Company
Sector Manufacturing
DESCRIPTION

The merged Austral Refrigeration and Hastie businesses were listed on the ASX in April 2005 as Hastie Group (HST) with an enterprise value of $180 million.


Deal Context for Buyer #
Overall 2 of 2
Sector: Manufacturing 1 of 1
Type: Merger 1 of 1
Country: Australia 2 of 2
Year: 2004 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-14 Austral Refrigeration Holdings Pty

Sydney, Australia

Austral Refrigeration Holdings Pty Ltd. is a provider of refrigeration business services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-19 Austral Refrigeration Holdings Pty

Sydney, Australia

Austral Refrigeration Holdings Pty Ltd. is a provider of refrigeration business services.

Sell -

Seller Profile 1

SELLER

Pemba Capital Partners

Sydney, Australia

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pemba Capital Partners is an independent private equity firm backed by the FirstRand Group focused on public and private company investments in Australia and New Zealand. Pemba looks to invest in profitable companies valued from $30 to $150 million AU. Pemba is a generalist investor, looking for opportunities in a variety of industries positioned for organic growth or growth through acquisitions. Pemba will not invest include early-stage or pure technology, hostile takeovers, property or construction, infrastructure, and agriculture or resources. Pemba Capital Partners was formed in 1998 and is based in Sydney, Australia.


Deal Context for Seller #
Overall 2 of 22
Sector: Manufacturing 1 of 3
Type: Merger 1 of 6
Country: Australia 2 of 21
Year: 2004 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 WorldMark

Victoria, Australia

WorldMark is a collection of boutique business brands supplying automotive aftercare products and services through various channels. WorldMark is based in Victoria, Australia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-01 Vanglobe Pty

Carole Park QLD, Australia

Vanglobe Pty Ltd. is a manufacturer and supplier of compounded polyethylene to the rotomoulding industry, based in Brisbane.

Buy -

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