Nordic Business Report-July 11, 2006-Alimak Hek acquires Conrent's rental assets in Australia
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Swedish private equity company Ratos AB said on Tuesday (11 July) that its associated company Alimak Hek has acquired Conrent's rental assets in Australia from Coates Hire Limited.
The acquisition makes Alimak Hek the leader in the hoist and mast climbing work platform market in Australia, according to the company.
The asset deal, in which the proceeds paid by Alimak Hek amount to AUD16.4m, includes acquisition of the rental assets, ongoing contracts, open order backlog, workshop related inventory and equipment as well as the Conrent brand and the staff associated with sales, erection and dismantling and service.
One Australian dollar (AUD) is worth approximately 0.42 British pounds (GBP).
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