Titan Plant Services Seeks Equity Partner

21 July 2009

Titan Plant Services part of the Titan Group and sister company to Titan Cranes is seeking an equity and/or merger partner to underpin its ambitious growth strategy planned to coincide with the anticipated improvement in market conditions.

Titan Plant Services holds market leading positions in various segments of the construction equipment market in New Zealand, representing the well known brands of Volvo Construction Equipment, Tigercat Forestry Equipment and Yanmar Compact Equipment. It has an annual turnover in excess of $100 million.

Titan Plant Services has engaged Cameron Partners, New Zealand’s leading independent investment bank, to manage the process.

Paul Torrington, Vice President of Volvo Construction Equipment with responsibility for the Oceania region, also supports the initiative as a means of strengthening the market position of Volvo Construction Equipment in New Zealand and continuing to support its valued customer base, which has been served in New Zealand, through Titan, for 23 years.

Titan has nationwide market coverage, with 12 company-owned branches across New Zealand including its brand new purpose-built facilities in Auckland and Christchurch. The other branches are Whangarei, Hamilton, Tauranga, Taupo, Napier, Palmerston North, Wellington, Dunedin, Cromwell and Invercargill.

Further information:
Toby King, Director Cameron Partners Limited, Wellington +64 4 494 7421 (DDI) +64 21 656 809 (Mob)