Tourism Holdings Ltd has announced it will funding the $5.7m acquisition of heavy transport manufacturing firm MaxiTRANS in New Zealand by its subsidiary Action Manufacturing from Australia Trailer Solutions Group New Zealand Limited.

It is expected that the conditions will be satisfied in the coming weeks and the acquisition will complete at the end of February.

MaxiTRANS is a well-established business operating in the heavy transport manufacturing industry under the brands of Maxi-CUBE and Freighter, and employs approximately 50 people. With its current forward book, as a standalone business MaxiTRANS is expected to generate revenue in excess of $18 million in the 12-month period ending 30 June 2022.

“We are excited to continue to support Action Manufacturing to grow its non-RV manufacturing activity,” said thl chief executive, Grant Webster,

“MaxiTRANS has a strong forward order book and the acquisition and associated synergies will enable more efficient use of Action Manufacturing’s physical, financial and intellectual property assets. We expect MaxiTRANS to deliver above thl’s internal return on funds employed target.”