Ann: ASSET: HBY: Hellaby Holdings continues on ac

• Release Date: 14/04/14 16:07
• Summary: ASSET: HBY: Hellaby Holdings continues on acquisition path
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					HBY
14/04/2014 14:07
ASSET

REL: 1407 HRS Hellaby Holdings Limited

ASSET: HBY: Hellaby Holdings continues on acquisition path

NZX / Media Release 14 April 2014

Hellaby continues on acquisition path

Investment company, Hellaby Holdings Limited (Hellaby), today announced the
addition of two businesses to its portfolio - one in the auto electrical
sector and one in the equipment / servicing sector. The acquisitions will
further strengthen Hellaby's leadership in autoparts distribution as well as
establishing a significant position in the truck aftermarket sector.

Hellaby has acquired the business of Auckland-based auto electrical wholesale
company, Dasko Marketing NZ Limited (trading as Dasko) in a private
transaction. Dasko is a national distributor of auto electrical, fuel and
engine management components to repair centres, workshops, autoparts
distributors and retailers.  Its product range complements those of Hellaby's
existing Automotive distribution businesses including BNT, HCB and Diesel
Distributors, further broadening the market coverage of this division.

Hellaby has also purchased the operations of New Zealand Trucks South Island
Limited (trading as New Zealand Trucks), a Christchurch-based truck servicing
business, in a private transaction. New Zealand Trucks provides maintenance,
repair and engineering services to the truck industry. Hellaby considers
this acquisition a logical next step in expanding its footprint in the
heavy-equipment servicing sector, with subsidiary AB Equipment already a
market leader in the supply and servicing of materials-handling, forestry and
construction equipment across New Zealand.

Hellaby Managing Director John Williamson said that Hellaby was delighted
with the acquisitions of Dasko and New Zealand Trucks. "While these
businesses are both relatively small, they are strategically significant and
highly complementary to a number of existing Hellaby subsidiaries.  We're
excited because we believe that they have strong growth potential, not only
because they are good businesses in themselves, but also through the
synergies they can achieve with other businesses in the Hellaby group."

Mr Williamson said the additions of Dasko and New Zealand Trucks have been
made at a combined enterprise value of less than $10 million. Hellaby has
used existing group debt facilities and expects the acquisitions to provide a
positive and immediate impact on earnings per share.   The businesses will
have combined annual revenues of around $20 million and are expected to
collectively increase Hellaby's annualised EBITDA by around $2.5 million.

ENDS

For further information please contact

John Williamson
Chief Executive Officer
T +64 9 307 6844
M +64 21 271 4960

Richard Jolly
Chief Financial Officer
T +64 9 307 6844
M +64 27 497 6710

www.hellabyholdings.co.nz

Hellaby at a glance

Hellaby Holdings is an NZX-listed investment holding company, which owns a
diversified portfolio of 15 industrial, distribution and retail businesses.

Our vision is to be a leading Australasian investor, based on the value we
add to our portfolio, the returns we deliver to our shareholders and the
calibre of our people.

Hellaby's core purpose is to generate long-term shareholder value by building
better businesses. We achieve this through a combination of performance
improvement and organic growth in the businesses we own, as well as smart
acquisitions and divestments. We describe this strategy simply as 'Buy,
Build, Harvest'.

Our investment portfolio is structured through five divisions - Oil & Gas
Services, Automotive, Equipment, Packaging and Footwear - with 3,000 people
across New Zealand, Australia, Middle East and North America. We have a
variable investment horizon, and our portfolio will evolve as opportunities
arise in target investment areas.

We actively manage our investments through a lean corporate office, and
decentralise leadership and performance accountabilities to our companies.

We seek to generate total shareholder returns superior to the NZX50.
End CA:00249459 For:HBY    Type:ASSET      Time:2014-04-14 14:07:51