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National Hire Group Halts Trading Pending Finalization of Tru Blue Purchase
National Hire Group, owner of Australia’s largest equipment rental company Coates Hire, has been placed in a trading halt ahead of an expected announcement on the acquisition of a Western Australian rental company. The move follows the Australian Competition and Consumer commission’s recent approval of the proposed purchase by Coates of Tru Blue Hire, first announced in mid August.
National Hire owns 46 percent of Coates Hire.
Tru Blue Hire, based in Perth, Australia, has 22 branches in Western Australia, South Australia and the Northern Territory.
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