Hills hoists hunt for acquisitions

Mr Pretty said the company had a war chest of between $200 million to $300 million for the right acquisitions and is now looking for bigger-sized purchases. “Our preference is to do one or two large acquisitions now,’’ he said. “Obviously you’re competing against private equity in some cases’’ Mr Pretty said. ”It is a ‘little bit harder’ when private equity is also looking for businesses because in some cases those firms come in offering a high ‘headline’ price to a vendor and then ratchet it down during negotiations.

Read more here: SMH


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