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Investment
2 mins to read

Kiwi Steelmasters acquired by ASX-listed Coventry for A$42m

The deal will create a Trans-Tasman business with forecast 2024 sales of A$400m.

Both companies already operate on both sides of the Tasman, and integration will produce cost and revenue synergies.

Lachlan Colquhoun Mon, 15 Apr 2024

ASX-listed industrial parts manufacturer Coventry Group has announced an A$42 million ($45m) deal to acquire Auckland-based Steelmasters Group.

Shares in Coventry went into a trading halt on the ASX today as the company announced it would fund the deal with a NAB debt facility and A$25m capital

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Lachlan Colquhoun Mon, 15 Apr 2024
Contact the Writer: lachlan@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Company profile
Powered by: asx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Related News
Investment
1

Task Group attracts A$310m offer from NYSE-listed Par Technology
Investment

Steel & Tube on the hunt for ‘bolt-on’ acquisitions

Tech & Innovation

Liquid IT sale to Aussie Orro paves way for national expansion
Investment
4

Steel demand battered by macroeconomics at Vulcan Steel HY

Business

‘Warming up’ of private equity funds could bolster M&A in 2024
Investment

Vulcan Steel braces against economic storms
Kiwi Steelmasters acquired by ASX-listed Coventry for A$42m
Investment,
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