Investment in Force Corp Pty Limited
August 15, 2008
On 15 August 2008 Helmsman Funds Management Limited, as trustee and manager of Helmsman Capital Fund II, acquired a majority economic interest in Forcecorp Pty Limited (Force).
Force hire, sell and manage access equipment for its clients who are involved in large scale construction projects in the mining, infrastructure and development or maintenance markets in Australia.
Force has a national footprint and operates 14 branches which are located in each of the major capital cities and certain other industrial/commercial markets in Australia.
Our investment strategy is to:
- refine product suite and pricing to improve earnings;
- reduce leverage;
- pursue organic growth via increasing the fleet size; and
- improving financial control, governance and accountability.
The company is well positioned in each of its markets and operates the second largest access equipment fleet in Australia.
The CEO is Drew Semken with a board comprised of Helmsman representatives, industry experienced non-executives and the original majority owner.
Should you wish to discuss this investment please contact Scott Kershaw of Helmsman on 61 2 99324730.