Automotive Holdings Group (AHG) has made a number of acquisitions that significantly increase its presence in the Australian truck and bus marketplace.
The company has reached agreement with Mercedes-Benz Australia/Pacific (MBAuP) to purchase Mercedes-Benz Commercial Vehicles in Newcastle (NSW), Rocklea (Qld) and Caboolture (Qld). AHG will also purchase the operations of SelecTrucks of Brisbane from MBAuP. These dealerships sell the Mercedes-Benz truck, bus and van ranges in addition to Freightliner and Fuso truck brands.
Furthermore, AHG has also acquired Newcastle Hino from Bradstreet Automotive Group.
The acquisitions, which are expected to be settled by early October 2012, are said to have a combined purchase price of approximately $8m inclusive of $5m in trading assets. Forecast revenue for the combined operations is $110m per annum.
The Mercedes-Benz acquisitions complement the company’s purchase last year of Diesel Motors Trucks in Perth (now Daimler Trucks Perth), while the Hino acquisition adds to AHG’s existing Hino dealerships in Perth and Melbourne.
Since the takeover last year by AHG, Daimler Trucks Perth has reportedly become the highest volume Mercedes-Benz and Fuso truck dealer in Australia, with sales exceeding the manufacturer’s expectations.
According to Bronte Howson, AHG managing director, these latest acquisitions strengthen the group’s position in NSW and Queensland and offer AHG customers the broadest truck and bus portfolio in the Australian market.
“Given the success of Daimler Trucks Perth, we’re excited about our prospects with the Daimler Trucks range of Mercedes-Benz, Freightliner and Fuso in NSW and Queensland,” Howson said. “Through these acquisitions we are growing our presence in the WA, Queensland and NSW truck and bus markets with experienced dealer principals and world-leading brands that have the capacity to grow revenue from sales, service and parts.”
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