Australia’s Avada to pay up to $13.7m for South Island traffic manager

Mon, 17 Apr 2023

Australian stock exchange-listed Avada Group will pay up to $13.7 million in cash for the South Island’s biggest traffic management firm, Wilsons Traffic Management. The Australian traffic management provider will pay $9.6m upfront, and between $1.4m and $4.1m in retention payments 12 months after the deal is completed provided performance hurdles are met. Wilsons TM's shareholders, Sam Wilson and Gabby Krauze, also stand to receive earn-out payments in the second and third years if certain targets are hit. Christchurch...

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