Join our daily newsletter At The Bell to receive exclusive market insights
- National Tyre & Wheel’s (NTD) subsidiary, Dynamic Wheel Co, acquires certain assets from 4×4 wheel specialist Access Alloys
- Based in Queensland, Access Alloys is the exclusive Australian distributor of American Outlaw, ELITE Off Road and Spyder 4×4 wheels
- This acquisition includes inventory, plant and equipment, intellectual property and the business name with Dynamic already paying more than $1.12 million
- The acquisition will increase Dynamic’s alloy wheel business through the distribution of the American Outlaw and ELITE Off Road brands in Australia
- NTD ends the day 2.04 per cent in the green with shares trading at $1.25
National Tyre & Wheel’s (NTD) subsidiary, Dynamic Wheel Co, has acquired certain assets from 4×4 wheel specialist Access Alloys.
Based in Queensland, Access Alloys is the exclusive Australian distributor of American Outlaw, ELITE Off Road and Spyder 4×4 wheels.
This acquisition includes inventory, plant and equipment, intellectual property and the business name.
Dynamic has already paid $1,121,000 for these assets and expects they will contribute annualised earnings before interest and tax of at least $500,000 from annual revenue of more than $3 million.
The acquisition will increase Dynamic’s alloy wheel business through the distribution of the American Outlaw and ELITE Off Road brands in Australia.
Further, Access Alloys will move into Dynamic’s existing premises and Dynamic will continue with the employment Access Alloys employees, except for the retiring founders.
Dynamic CEO Chris Hummer commented on the acquisition.
“The addition of the American Outlaw and ELITE Off Road brands provides a complementary fit into our portfolio of wheel brands and we look forward to growing the distribution footprint of these products through NTAW’s national network,” Mr Hummer said.
NTD has ended the 2.04 per cent in the green with shares trading at $1.25 in a $141.5 million market cap.
