Coates Hire

Coates Hire
Industry Equipment rental
Founded 1885
Headquarters Sydney
Area served
 Australia
Indonesia
Key people
 Geoff Fraser (CEO)
Revenue $918 million (2017)
$142 million (2017)
Owner Seven Group Holdings
Website www.coateshire.com.au

Coates Hire is an Australian equipment hire company. It is a subsidiary of Seven Group Holdings.

History

Coates Hire was founded in 1885 as a small engineering company in Melbourne. It diversified into equipment hire in the years following World War II when a vibratory roller was purchased and leant to potential customers on a try before you buy policy. Coates Hire was listed on the Australian Securities Exchange (ASX) in 1955. In 1972 Coates Hire was purchased by Australian National Industries.[1]

In 1993 it commenced operations in Indonesia. In August 1996 it was relisted on the ASX. In 2002, Wreckair was acquired from Brambles Limited.[1]

In January 2008, it was delisted from the ASX when acquired by private investors the Carlyle Group and the National Hire Group. The hire businesses of Coates Hire and the National Hire Group were merged to consolidate the two largest hire companies in Australia.[2][3]

On 25 October 2017, Seven Group Holdings acquired the remaining 53% from the Carlyle Group as well as from minority owners.[4] Seven Group Holdings had first invested in Coates Hire, alongside Carlyle Group and management in 2008 through its WesTrac subsidiary.[5][6]

Sponsorships

Coates Hire has been a regular sponsor of Supercars teams and events. It was title sponsor for Nick Percat’s 2012 Development Series, 2013 Australian Carrera Cup Championship and 2014 V8 Supercars Championship campaigns.[7][8] It was title sponsor for the Sydney 500 and the Supercars Challenge and currently sponsors the Melbourne 400, the Ipswich SuperSprint and Newcastle 500.

References

  1. 1 2 Our History Coates Hire
  2. ↑ Company Overview National Hire Group
  3. ↑ Seven Group Holdings Buys Out Coates Hire Sydney Morning Herald 20 September 2017
  4. ↑ Seven Group to pay $517m for control of Coates Group Australian Mining 20 September 2017
  5. ↑ Seven Group Holdings Coates Hire Acquisition Australian Securities Exchange
  6. ↑ Seven Group Holdings Annual General Meeting, ‘Strategy Execution - Acquisition of Coates Hire’, 16 November 2017 Australian Securities Exchange
  7. ↑ Nick Percat reveals Coat Hire Porsche livery Speedcafe 27 February 2013
  8. ↑ Nick Percat reveals Coates Hire Holden Speeedcafe 26 February 2014
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