Ped­er­sen Group tar­geted by Aussies

New Zealand Logger - - Forest Talk -

NEW ZEALAND WOOD BUSI­NESS, PED­ER­SEN GROUP, IS IN LINE TO be pur­chased by an Aus­tralian lo­gis­tics com­pany.

It has en­tered into a con­di­tional pur­chase agree­ment with Syd­ney­based Linx Cargo Care Group for an undis­closed amount, with the deal ex­pected to be fi­nalised as NZ Log­ger mag­a­zine went to print.

Ro­torua-based Ped­er­sen was pur­chased from Paul Ped­er­sen on his re­tire­ment two years ago by Auck­land pri­vate eq­uity firm Maui Cap­i­tal.

Ped­er­sen sup­plies chip to the Kin­leith and Kaw­erau mills in New Zealand, Norske Skog’s pulp mill in New South Wales, the Mary­vale pa­per mill in Mel­bourne and runs the Vanua Levu chip plant in Fiji.

Linx op­er­ates across Aus­tralia and New Zealand, with its C3 busi­ness spe­cial­is­ing in forestry lo­gis­tics and op­er­at­ing in 13 ports in New Zealand. It al­ready has an ex­ist­ing joint ven­ture with Ped­er­sen for wood yard man­age­ment.

The lat­est deal would see Ped­er­sen Group con­tinue to op­er­ate in­de­pen­dently un­der the Ped­er­sen brand fol­low­ing the com­ple­tion of the ac­qui­si­tion and all 140 Ped­er­sen em­ploy­ees re­tained by the new owner, the two com­pa­nies say in a state­ment.

“The ac­qui­si­tion of Ped­er­sen Group by Linx Cargo Care Group will pro­vide long-term sta­bil­ity for our em­ploy­ees and cus­tomers, and the op­er­a­tional and fi­nan­cial ca­pac­ity to al­low our busi­ness to pur­sue its growth as­pi­ra­tions,” says Ped­er­sen Group Chief Ex­ec­u­tive, Gavin Hud­son.

An­thony Jones, Group Chief Ex­ec­u­tive for Linx and Chair of C3, says the ac­qui­si­tion will help Linx im­prove its ser­vices to for­est own­ers and wood pro­cess­ing busi­nesses and ex­tend its global reach.

NZL

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