United are proud to announce the company acquisition by the Elphinstone Group. The Elphinstone Group has been a 28% shareholder of United since 2010 through subsidiary William Adams Industries Pty Ltd. The transaction completed on Friday 26 June 2015 makes United Equipment officially 100% owned by the Elphinstone Group.
Elphinstone Group Executive Chairman, Mr Dale Elphinstone said, “An opportunity arose for our Group to acquire the balance of the business. We believe this to be a positive move reinforcing United during this tough economic cycle Australia faces.”
Through our portfolio of products, the services we offer, and the way we serve our customers through a broad national network of capital city and regional branches, this was particularly appealing to The Elphinstone Group.
“United’s business model of sales, rental, parts and service has good synergies with other businesses in the Group,” Mr Elphinstone said.
The Elphinstone Group located in Burnie, Tasmania, has interests in many other companies including William Adams, The Cat Rental Store, Phu Thai Cat, APac Energy Rental, Energy Power Systems Australia, Sitech, Ultimate Positioning, Haulmax, MaxHire, Engenco, Novapower, Gekko Systems, Exergen, Southern Prospect and the Queensland Gas Company.
The acquisition by The Elphinstone Group ensures greater stability for United in these challenging economic times, but more importantly, provides an opportunity for future expansion and growth in the years to come.