Australian earthmoving equipment rental specialist Emeco Holdings this week confirmed it received an “unsolicited” and “non-binding” takeover proposal from a private equity firm, according to Australian news reports. Company executives said the proposal is preliminary and incomplete and will not necessarily lead to a formal proposal.
Emeco added that it will not engage with the investment firm before announcing its annual results Aug. 26.
The company said in a statement: “The Emeco board will consider any offer or proposal it receives having regard to all alternatives available to the company.” The company would not identify the private equity firm that made the proposal.
Emeco announced in late June that CEO Laurie Freedman will step down at a mutually convenient time later this year, agreeing to remain as CEO until a successor is found.
Based in Perth, Australia, with North American headquarters in Houston, and operations in the U.S. and western Canada, Emeco is No. 42 on the RER 100.