05.05.2008

Tutt Bryant acquires

Tutt Bryant the Australian based crane, access and equipment sales and rental business, part of the Tat Hong group, has purchased Caradel Hire of Goulbourn, New South Wales, for a total of A$5.2 million.

The deal which has been made via Tutt’s Kingston Industries subsidiary is comprised of A$3.4 million in cash plus the company will assume A$1.8 million of external debt.

Caradel specialises in the rental of specialist rail and track equipment as does Kingston. Tutt says that it will add access equipment and mini excavators to the Caradel location which is well placed to serve the Canberra and Wagga Wagga markets.