Hellaby finally finds acquisition in Contract Resources

Wed, 26 Dec 2012

By Paul McBeth Dec. 27 (BusinessDesk) - Hellaby Holdings, the diversified investment group, has finally found something to buy after being on the prowl for the past two years in specialised engineering maintenance and industrial cleaning company Contract Resources. The Auckland-based investment firm will spend $73 million on an 85 percent stake in Contract Resources, and saddle it with $30 million in debt, it said in a statement today. The other 15 percent will be held in equal tranches by chief executive Andrew Wells and senior managers Tre...

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