Equipmake reports 'credible interest' amid formal sale process
By Josh White
Date: Monday 06 Jan 2025
(Sharecast News) - Equipmake, a specialist in electrification technologies for the automotive, truck, bus, and specialty vehicle sectors, updated the market on its ongoing strategic review and formal sale process on Monday, which it initiated on 6 December.
The company said it had attracted "credible interest" from several potential strategic investors, partners, and acquirers.
Discussions were ongoing as Equipmake focussed on fulfilling orders for existing customers while exploring new business opportunities to support its pathway to mid-term profitability.
Equipmake said it remained debt-free, aside from equipment finance lease agreements, and was continuing to navigate the process under the rules of the Takeover Code.
The company said it would provide further updates on the strategic review as developments unfolded.
Equipmake remained in an official offer period, with disclosure requirements in place as stipulated by the Takeover Code.
Reporting by Josh White for Sharecast.com.
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