Mining carrier booms with merger deal

Mackay-based group which includes heavy haul carrier McAleese Transport looks to expand through a merger of Boom Logistics

A Mackay-based group which includes heavy haul carrier McAleese Transport is looking to expand its crane hire business through a merger of listed hire group Boom Logistics.

Boom is considering an "unsolicited merger proposal" from the Harbrew Group, whose entities including McAleese Investments, the company informed the stock exchange last week.

Harbrew is the largest shareholder in Boom with an aggregate holding of 12.2 percent.

Boom says the "incomplete" proposal is "preliminary in nature" but is under consideration.

"It does, however, offer the prospect of alternative approach to balance sheet strengthening and business development, as well as creating a substantially larger enterprise."

Boom has put a planned $80 million capital raising on hold to consider the proposal and other "strategic opportunities", expected to take "several months".

The McAleese Group, one of the largest privately-owned companies in Queensland, has interests in transport and cranes and machinery serving the mining, industrial project and infrastructure sectors.

McAleese Transport services clusters of mines across Brisbane, Rockhampton, Biloela, Emerald, Gladstone, Moranbah and Townsville.

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