Page 22 - Australasian Paint & Panel July-August 2019
P. 22

22
News • In Focus
PAINT&PANEL JULY / AUGUST 2019
WWW.PAINTANDPANEL.COM.AU
AMA’S
BUYING
SPREE
AMA ISSUED A COMPANY UPDATE IN JUNE WITH CEO ANDY HOPKINS REPORTING THE GROUP HAS INCREASED ITS PROMISED SECOND HALF REVENUE RUN IN EXCESS OF $120M.
date the acquisition pipeline AMA has increased its debt facility with NAB by C$50m to C$150m.
Hopkins said:"We are very happy with the second half of 2019 and pleased that the new team structure and new strate- gy is continuing to deliver results.
"The acquisition team has been very busy in the second half with us expecting to finalise binding agreements for acquisi- tions/ open greenfield sites in excess of $120m by June 30. This is well ahead of what we expected when we presented our results for the first have. We see no slow down for the business with new entrants and look forward to a strong and robust 2020 under the new management regime."
A
MA GROUP HAS BEEN VERY
busy in the acquisition
space, buying three heavy vehicle repairers, a number of autobody repair businesses
and building new greenfield sites. Multi-award winning Wales Truck and Bus Repairs CEO Darren Wales will head up AMA's national heavy vehicle group which also includes Parins in
Western Australia.
Another significant appointment is
that of Steve Bubulj to the role of Panel Division CEO to help support and drive the growth of the division from 1 July. Bubulj has held several senior manage- ment roles at IAG, Youi, QBE Insurance.
AMA has listed its recent acquisitions as:
• Smash Care 8 sites (QLD, NSW, VIC)
• Correct Panel Group 4 sites (VIC)
• KSR Autobody 1 site (NSW)
• Inkerman Panels (VIC)
• Norm Flynn Smash Repairs 1 site (WA) • Re-Car Australia 3 sites (VIC, QLD)
• Wales Truck Repairs 2 sites (NSW)
• All Transport 1 site (SA)
• Gemini Chatswood (Greenfield, NSW) • Gemini Ballarate (Greenfield, VIC)
• Gosford Hail Shop (Greenfield, NSW)
The update reports that multiples for the businesses being acquired have been on average 3.8 times. To accommo-
FAR EFT: Darren Wales will head up the AMA heavy vehicle division.
LEFT: Steve Bubulj is now Panel Division CEO.


































































































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