Ares bids $2.50 a share for MaxiPARTS in $132M take-private
What's the deal? MaxiPARTSDealroom has a profile for this one. Try Dealroom → (ASX:MXI) has received a conditional, non-binding takeover proposal from Ares Management AsiaDealroom has a profile for this one. Try Dealroom → to acquire all its shares at $2.50 cash apiece via a scheme of arrangement. The offer values the truck parts distributor at about $132 million. Separately, MaxiPARTS agreed to buy the assets of Air Brake Systems Unit TrustDealroom has a profile for this one. Try Dealroom → for $11.2 million.
The terms: The $2.50 price marks a 46% premium over MaxiPARTS' closing price of $1.71 on September 2, 2026, and a 52% premium over its one-month volume weighted average price. Shareholders eligible for the 5.46 cents final dividend, payable September 17, keep it on top of the offer.
What happens next? MaxiPARTS has granted Ares a four-week exclusivity period, extendable by two, to finish due diligence and negotiate a binding scheme implementation deed. The board considers the arrangement in shareholders' best interests and intends to unanimously recommend the deal, absent a superior proposal and subject to an independent expert's sign-off.
What could go wrong? The proposal is non-binding and carries conditions: satisfactory due diligence, Ares securing funding, internal approvals, and regulatory clearances. No binding deed is yet signed.
The bolt-on: Air Brake Systems, founded in 1991, is one of Australia's largest suppliers of brake components for heavy-duty trucks, buses, and trailers. It employs 20 staff, generates $20 million in revenue, and draws roughly 60% of that from brake kit sales to trailer manufacturers.
By the numbers: MaxiPARTS is paying four times Air Brake Systems' average operating EBITDA of $2.8 million, funded from cash and debt. The deal is forecast to deliver 17% earnings-per-share accretion on a full-year basis before synergies. Of the price, 75% is payable on completion, with the rest split over two years subject to performance targets.
The signal: The dual announcement leaves MaxiPARTS pursuing growth even as it fields a bid to go private, handing shareholders a premium exit while consolidating its position in Australia's heavy-vehicle parts market.
Read more: kalkinemedia.com
Image credit: MrBigCity
