MaxiPARTS announces two major acquisitions

The Company also announced that Förch Australia will acquire Förch Brisbane for $1.9 million, to be jointly funded by MaxiPARTS and minority shareholders of Förch Australia.

Independant Parts Pty Ltd (IP) is a leading privately owned commercial truck and trailer parts distribution company operating in Western Australia with over 450 customers and four strategically located regional retail sites in Perth, Port Hedland, Geraldton, and Bunbury.

IP offers a comprehensive range of products, including transmissions and differentials, drivelines, brake parts, trailer parts, general truck parts, and accessories.

Serving a diverse customer base that includes major transport and mining companies, truck dealerships, and small independents, the addition of IP significantly enhances MaxiPARTS' presence in Western Australia, adding three additional stores post-consolidation and establishing strong partnerships with key national logistics and mining customers in critical mining regions, including the Goldfields and Pilbara mid-west region.

MaxiPARTS Managing Director and CEO, Peter Loimaranta, expressed his enthusiasm for the acquisition, stating: "The acquisition of IP is an exciting step forward in the expansion of MaxiPARTS and is fully aligned with our stated acquisition criteria."

Importantly, all employees at IP will remain with the business, ensuring a smooth transition and uninterrupted service to valued customers. Legal entity details will remain unchanged, simplifying the transition process for stakeholders.

The acquisition of Förch Brisbane is a 100 per cent asset acquisition, including inventory, fixed assets, intellectual property, and employees. This acquisition consolidates the Förch Australia distribution model and establishes a third warehouse facility in Brisbane, alongside existing locations in Perth and Melbourne.

Completion of both acquisitions are subject to customary conditions. No shareholder or regulatory approvals are required, and there will be no changes to MaxiPARTS Limited's Board or Senior Management as a result of these transactions. The acquisitions are anticipated to be completed by the end of the calendar year 2023.