Press Release
Three Sixty Capital Partners Facilitates Sale of Chain and Rigging Supplies Limited
Auckland, New Zealand – June 2021 – Three Sixty Capital Partners is pleased to announce the successful sale of Chain and Rigging Supplies Limited (Chain & Rigging), effective June 1, 2021. This strategic transaction marks a significant development in the distribution sector, aligning two companies with complementary business models and expanding their market reach.
About the Transaction:
Chain & Rigging, based in Auckland, is a prominent importer and distributor of chain, steel cable, fixtures, and fittings. The company serves a diverse customer base, with products sold directly to end users primarily in the Infrastructure, Construction, and Transport sectors. The buyer, Eltrade Industries Limited, trading as First Flex Cables (First Flex), is an importer and distributor of electrical cables and fittings. First Flex’s business model closely aligns with that of Chain & Rigging, making this acquisition a strategic fit.
Role of Three Sixty Capital Partners:
Three Sixty Capital Partners acted as the exclusive financial advisor to Chain & Rigging. The firm’s dedicated team provided comprehensive advisory services, including strategic guidance, valuation, negotiation, and due diligence support, ensuring a seamless and efficient transaction.
Statements from Key Stakeholders:
Mark Smitheram, Partner at Three Sixty Capital Partners:
“We are delighted to have facilitated the sale of Chain & Rigging Supplies Limited. This transaction highlights our commitment to delivering exceptional results for our clients and underscores our expertise in the mergers and acquisitions space. We believe the combination of Chain & Rigging and First Flex will create significant value for both companies.”
Mike O’Brien, CEO of Chain & Rigging Supplies Limited:
“This sale marks an important milestone for Chain & Rigging, allowing us to join forces with First Flex and leverage their strengths to better serve our customers. We appreciate the guidance and support provided by Three Sixty Capital Partners throughout this process.”
Lance Davis, CEO of Eltrade:
“We are excited to welcome Chain & Rigging to the Eltrade family. Their product offerings and customer base complement our own, and we look forward to driving growth and innovation together. We thank Three Sixty Capital Partners for their professionalism and expertise in facilitating this transaction.”
About Three Sixty Capital Partners:
Three Sixty Capital Partners is a premier advisory firm specializing in mergers, acquisitions, and divestments. With a strong track record of successful transactions, the firm is committed to providing exceptional advisory services to its clients, helping them achieve their strategic goals and maximize value.
About Chain & Rigging Supplies Limited:
Chain & Rigging Supplies Limited is a trusted importer and distributor of chain, steel cable, fixtures, and fittings, serving the Infrastructure, Construction, and Transport sectors. Known for its high-quality products and exceptional customer service, Chain & Rigging has established a strong market presence in the industry.
About Eltrade:
Eltrade Industries Limited, is an importer and distributor of electrical cables and fittings. With a business model similar to Chain & Rigging, Eltrade is committed to providing top-tier products and services to its customers.
For More Information:
Mark Smitheram
Three Sixty Capital Partners
Email: mark.smitheram@360capital.co.nz
Phone: +64 21 897560
