Expressions of interest sought for Tail Lift and Whiting Door businesses
Just over a year after buying the businesses, Wastech has put the Tieman Tail Lift and Whiting Door divisions on the market.
Coming as part of a company refocus, Wastech Field Services is asking for expressions of interest by 5pm Friday.
The company is offering an inventory on hand of approximately $750,000, strong supplier relationships, the Tieman brand, sales and distribution agreements, an existing customer base and experienced engineering technical staff.
The sale would also include intellectual property such as Cad drawings and the new hydraulic power pack redesign.
Overseeing the deal is PKF Chartered Accountants, which believes the businesses would be of benefit to a company with an established stable of brands.
“The business would be considered an ideal acquisition to any businesses looking to establish or add reputable brand names to their existing stable of parts or equipment to supply to the commercial transport industry,” PKF Melbourne partner Steven Perri says.
“The level of enquiry to date has been strong with expressions closing at weeks end we urge all parties to register their interest as soon as possible.
“It’s an opportunity for to acquire quality products and a great brand, and continue focus on building the business.”
On why they are being sold, Perri says these particular parts of the business are “considered non-core to the wider operations of the group and is therefore being sold as part of the realignment of the business to focus on core activities.”
The price point is yet to be determined, he says, as expressions of interest and information memorandums are currently being distributed.