10.07.2009

Titan looks to sell

Titan holdings, one of New Zealand’s largest crane equipment sales and rental groups is looking for a private equity investor or merger partner for its sales operation.

The group is looking for an investor in its Titan Plant Services business, the Kato cranes, Volvo construction, Tigercat Forestry Equipment and Yanmar compact equipment distributor for New Zealand.

Titan Plant Services operates from 12 locations across New Zealand including new purpose-built facilities in Auckland and Christchurch.
The other part of the business Titan crane hire, was established in 1965 and now operates from six locations throughout New Zealand and runs a mixed mobile crane fleet with capacities up to 200 tonnes.

The family-owned business has taken the unusual move of publicly announcing its plans and retaining investment bank Cameron Partners to search for a potential investor.

Cameron Partners director Toby King said that the business has experienced rapid growth in recent years the company has set itself an ambitious growth strategy and is looking to extend its offerings in the local market place.