<article>Sydney-based Linx Cargo Care Group announced that it will buy out wood processor Pedersen Group, owned by Auckland-based private equity firm Maui Capital, for an undisclosed amount.</article>

Sydney-based Linx Cargo Care Group announced that it will buy out wood processor Pedersen Group, owned by Auckland-based private equity firm Maui Capital, for an undisclosed amount.
Linx Cargo and its subsidiary C3 Limited have entered into a conditional purchase agreement with Pedersen Group and expect the deal to be completed in mid-August, according to an announcement.
Pedersen Group will continue to operate independently under the Pedersen brand following the acquisition.
“The acquisition of Pedersen Group by Linx Cargo Care Group will provide long-term stability for our employees and customers, and the operational and financial capacity to allow our business to pursue its growth aspirations,” said Pedersen Group CEO Gavin Hudson.
Anthony Jones, group chief executive for Linx and chair of C3, said the acquisition would help Linx improve its services to forest owners and wood processing businesses and extend its global reach.
Maui Capital acquired a 50 per cent stake in Pedersen in late 2014 via its NZ$250 million ($171 million) Aqua Fund, which targets companies with valuations in a range of NZ$30 million ($17.26 million) &#8211; NZ$200 million ($115 million).
Linx Cargo Care Group is Australia and New Zealand&#8217;s diversified logistics infrastructure and solutions provider. Every year, its group of companies handles more than 11 million tonnes of bulk products, almost 2 million tonnes of steel and more than 30 million logs.
Founded in 2008, Maui Capital Limited is a private equity firm specialising in investments in mid-market companies. The firm targets expansion and growth capital investments for organic growth or industry consolidation; management buyouts and buy-ins, buy and build opportunities, turnaround transactions.
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Sydney-based Linx Cargo Care Group announced that it will buy out wood processor Pedersen Group, owned by Auckland-based private equity firm Maui Capital, for an undisclosed amount.

Australia's Linx Cargo to buy wood processor Pedersen Group from Maui Capital

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