MaxiPARTS agreed to acquire Nineteen Group and its subsidiary, Independant Parts, a Western Australian truck and trailer parts distributor, for $27.0 million cash.

The acquisition aligns with MaxiPARTS' core M&A strategy and is valued at 7.94x FY23 EBITDA.

Meanwhile, Förch Australia, in collaboration with MaxiPARTS and minority shareholders, will acquire Förch Brisbane for $1.9 million.

The acquisitions are expected to be mid-single-digit EPS accretive in FY24 and will be funded through a $17.2 million institutional placement, existing cash, and an extended debt facility.

Completion of both acquisitions is anticipated by the end of 2023.