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Vehicle Testing NZ purchases On Road business

October 6, 2004

Vehicle Testing NZ purchases On Road business

Vehicle Testing New Zealand Limited (VTNZ) has today signed an agreement to purchase the assets and business operations of one of the country’s more innovative vehicle testing companies, On Road New Zealand Limited (On Road).

On Road operates from 15 sites around the country in both the North and South Islands and is one of four vehicle testing companies in New Zealand.

VTNZ Chief Executive Mike Walsh said the acquisition is an important step forward in the development of the company.

“We had planned for organic growth but the opportunity to purchase On Road was too good to pass by,” he said.

“On Road is an innovative company that has grown quickly as a result of a combination of a strong focus on customer service and effective brand building. We’ve negotiated the acquisition because we know we can benefit from the expertise and the customer networks the company has developed.”

Mr Walsh said VTNZ intends to continue operating the two brands while it conducts a review of operations to develop an understanding of the On Road business. He said VTNZ will make a decision on whether to integrate the two businesses once the review is complete.

On Road Managing Director Kevin Pugh said he was pleased that the skills developed by his venture and staff would not be lost.

“I’m very proud of what we’ve achieved since the company started with the purchase of the North Shore Vehicle Testing Station in 1992. I’m confident it will fit well into the VTNZ network and that it will have a great deal to contribute.”

The purchase is subject to regulatory approval.

Both companies are certified by the Land Transport Safety Authority as Transport Service Delivery Agents.

VTNZ is owned by the Motor Trade Association and operates 60 vehicle testing stations around the country.

ENDS

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