Competition body examines Coates Hire acquisition of Tru-Blu Hire

The Australian competition commission is reviewing Coates Hire's proposed acquisition of Tru-Blu Hire, a rental company based in Perth, Western Australia with around 22 depots.

National Hire Group, part-owner of Coates Hire, said it had entered into an agreement to acquire Tru-Blu Hire, for an undisclosed sum. Tru-Blu is owned by David Harders, who founded the company in 1994.

The Australian Competition & Consumer Commission has given until Friday 26 August for comments on the acquisition to be submitted and said it would publish a ruling on the deal in September.

Tru-Blu Hire is a general equipment rental company with locations in Western Australia, South Australia and the Northern Territory.

Meanwhile, National Hire said it had raised its profit expectations for the 2011 financial year, with net profits after tax expected to be A$26.5 million, up from the A$20-25 million range announced in February.

National Hire owns pump and lighting tower manufacturer Allight Primax and a 46% share of Coates Hire.