AMA Group has been very busy in the acquisition space, buying three heavy vehicle repairers, a number of autobody repair businesses and building new greenfield sites.
Multi-award winning Wales Truck and Bus Repairs CEO Darren Wales (pictured) will head up AMA's national heavy vehicle group which also includes Parins in Western Australia.
AMA has listed its recent acquisitions as:
Smash Care 8 sites (QLD, NSW, VIC)
Correct Panel Group 4 sites (VIC)
KSR Autobody 1 site (NSW)
Inkerman Panels (VIC)
Norm Flynn Smash Repairs 1 site (WA)
Re-Car Australia 3 sites (VIC, QLD)
Wales Truck Repairs 2 sites (NSW)
All Transport 1 site (SA)
Gemini Chatswood (Greenfield, NSW)
Gemini Ballarate (Greenfield, VIC)
Gosford Hail Shop (Greenfield, NSW)
The update reports that multiples for the businesses being acquired have been on average 3.8 times. To accommodate the acquisition pipeline AMA has increased its debt facility with NAB by C$50m to C$150m.
Hopkins said:"We are very happy with the second half of 2019 and pleased that the new team structure and new strategy is continuing to deliver results.
"The acquisition team has been very busy in the second half with us expecting to finalise binding agreements for acquisitions/ open greenfield sites in excess of $120m by June 30. This is well ahead of what we expected when we presented our results for the first have. We see no slow down for the business with new entrants and look forward to a strong and robust 2020 under the new management regime."
