Aussie company Coventry Group buys NZ firm Steelmasters for $45.8m

(Image: NZME)

Mon, 15 Apr 2024

Australian-listed Coventry Group is buying New Zealand company Steelmasters for A$42.1 million (NZ$45.8m).Steelmasters is a supplier and manufacturer of industrial and speciality fasteners through its four branches in New Zealand and eight in Australia. Its head office is in Auckland.The Steelmasters brands include "Steelmasters" and "Galvmasters" in NZ and "Boltmasters" and "Profast" in Australia.FY24 sales revenue is forecast to be NZ$40.3m (split 54% Australia and 46% NZ) and normalised earnings before...

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