Freightways acquires Iron Mountain for $12.7 million
Freightways has acquired Iron Mountain New Zealand for $12.7 million and will merge the operations of its acquisition with its subsidiary Online Security Services.
Freightways has acquired Iron Mountain New Zealand for $12.7 million and will merge the operations of its acquisition with its subsidiary Online Security Services.
In a statement to the NZX, Freightways forecast the acquisition would increase its revenue by $12 million and EBITA by $1.5 million and capital merger costs would amount to $1 million.
The purchase price would be met by existing debt facilities and would leave Freightways with a debt to debt and equity gearing ratio of 48.5%.
Freightways is a transport operator with an extensive presence in New Zealand and Australia, and Iron Mountain is a information management company best known for document destruction services.
Freightways shares recently changed hands for $3.20.
Matt Nippert
Mon, 03 Oct 2011
Mon, 03 Oct 2011
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Freightways acquires Iron Mountain for $12.7 million
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