Royal Wolf Holdings Limited
(ASX:RWH) says it will acquire Queensland based Australian Container and Engineering Services for an undisclosed amount.
Royal Wolf’s chief says the acquisition will expand its presence in Brisbane, Townsville and Cairns.
The shipping container provider also released its first quarter 2013 results revealing a 5.2 per cent increase in revenues and a 15.7 per cent hike in EBITDA, compared to the same time last year.
Royal Wolf attributes its growth to its portable storage, buildings and freight container markets and says it continues to seek profit accretive acquisition opportunities that will enhance its leasing revenues across Australia and New Zealand.
General Finance Corporation (NASDAQ:GFN) is a majority shareholder with more than 50 per cent interest in the company.
In the 2012 financial year, Royal Wolf generated a net profit of $11.6 million.
