Hellaby agrees to sell equipment unit to Maui Capital for $81 million

Tue, 28 Jun 2016

By Tina Morrison June 29 (BusinessDesk) - Hellaby Holdings agreed to sell its equipment group to private equity group Maui Capital Aqua Fund for $81 million, and will use the funds to reduce debt and expand its core automotive and resource services groups. The diversified investor received an unsolicited approach from Maui Capital as it was working through a strategic analysis of its business model and agreed to accept the offer, which will realise a capital gain on book value of about $30 million after costs and working capital adjustmen...

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