Transportation company MaxiTRANS has acquired Queensland Diesel Spares (QDS).
QDS provides truck parts and accessories.
It acquired the company for approximately $21.6 million.
The move is part of MaxiTRANS strategy to increase its presence in Queensland.
It already has a presence in Victoria, New South Wales, and South Australia through its subsidiary Colrain.
According to MaxiTRANS, this acquisition "will establish us as one of the largest truck parts distribution and retail operations in Australia".
It "provides exposure to new market segments, increases geographical reach and allows further penetration into the mining and resources sector where Colrain is already supplying components such as suspensions, lights, wheel, and tyres to a number of specialist trailer manufacturers".
Michael Brockhoff, MaxiTRANS managing director explained "for the last two years we have been on the lookout for opportunities to take the next step to expand upon Colrain’s success".
Funding for the acquisition will come from existing banking facilities and will be completed on 2 April this year.