ANZ Private Equity has completed the management buyout of Precision Bearings and Transmission and Saeco from their Australian owner, Consolidated Bearings, for $19.4 million.
The acquisition was carried out by Motion Industries, which is owned by the management buyout team and ANZ Private Equity.
The ANZ said it was the second such deal the bank had structured in the past five months.
AdvertisementAdvertise with NZME.
Latest from Business
Fonterra appoints permanent COO
Anna Palairet had been acting in the position since June 2023.