- Coventry Group (CYG) set to acquire Tasmanian-based hydraulic equipment company Fluid Power Services (FPS)
- The company will buy FPS for $2.1 million in cash, which will funded through a recent financing facility with banking giant NAB (NAB)
- Coventry believes the acquisition will highly complementary to its business as FPS boasted $4.9 million in the 2020 financial year
- Additionally, FPS will allow also Coventry to expand its presence into Tasmania
- The acquisition is subject to certain conditions which expected to completed by April 30
- Coventry’s shares are trading flat at $1.17
