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Southern Capital cleared to acquire Hirepool

Commerce Act: Southern Capital cleared to acquire Hirepool

The Commerce Commission has cleared Southern Capital Limited to acquire 100% of the shares in Hirepool Limited from Owens Group Limited.

Chair John Belgrave said the Commission is satisfied that the proposed acquisition would not have, nor would be likely to have, the effect of substantially lessening competition in the heavy construction, building and ‘do it yourself’ equipment hire services markets.

Southern Capital is a publicly listed investment holding company. The majority of its holdings are in property investment and development. Southern Capital also holds, through its subsidiary CBD No.1 Limited, 50% of the shares in Hire Equipment Group Limited.

Owens Group is a publicly listed company whose core activity is transportation logistics. Ownership of Hirepool is through the subsidiary Owens Industrial Services Limited.

Hirepool provides general construction and building equipment hire services. It has 22 branches across the Auckland, Waikato, Wellington and Christchurch regions.

The Commission’s written decision on the application will be available soon on the Commission’s website, www.comcom.govt.nz/adjudication.

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