01 Aug 2017
Sale of Gordon Handy Machinery
Murray & Co acted as financial advisor on the sale of John Deere dealership and agricultural machinery retailer, Gordon Handy Machinery (“GHM”) to Drummond & Etheridge, completed on 9 June 2017. Established in 1979, GHM had grown to become one of the largest agricultural machinery distributors in the South Island employing towards 100 staff.
Murray & Co provided overall financial advice, transaction management and leadership of negotiations throughout the process. Selling shareholder Gordon Handy said: “At the outset of the sale process, I didn’t appreciate the amount of work that would be involved. Murray & Co did an excellent job, were highly professional and delivered a great outcome.”
Sale of Vega Industries
Murray & Co acted as financial advisor on the sale of Vega Industries to Canadian listed company, Carmanah Technologies, completed on 1 August 2017. Our role included producing marketing documentation, approaching and negotiating with potential buyers, valuation advice, facilitating the due diligence process and assisting with legal documentation and completion.
Vega was established in 1972 and manufactures aids to navigation products for the marine and aviation industry from its Porirua factory. It was the first company to design the PEL light, a sector light used to guide ships in and out of ports and harbours which is now used around the world.
Carmanah is a Toronto-listed company specialising in energy-optimized LED solutions for infrastructure and operates in two main segments: Signals and Illumination. The Signals segment provides aids to navigation in the aviation, offshore wind, marine and traffic markets while Illumination provides solar-powered LED outdoor lights for municipal and commercial customers.