MaxiPARTS acquires Nineteen Group and Independant Parts for AU$27 million in cash

MaxiPARTS Limited (ASX: MXI) has formally agreed to acquire Nineteen Group Pty Ltd and its subsidiary Independent Parts Pty Ltd for AU$27.0 million cash. This move, alongside the acquisition of Förch Brisbane, aligns with MaxiPARTS' strategic criteria and is expected to be mid-single-digit EPS accretive in FY24, excluding synergies. The IP Acquisition amplifies MaxiPARTS' Western Australian operations, leveraging embedded operations in key mining regions and boasting a robust 30-year history with approximately 16% CAGR revenue growth from FY21 to FY23.

The Förch Acquisition consolidates the Australian distribution model and establishes a third warehouse facility. To finance these acquisitions, MaxiPARTS has initiated a fully underwritten AU$17.2 million institutional placement, with the remaining funds sourced from an AU$10.0 million debt facility extension and existing cash reserves.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com