Traditionally, Scully RSV’s focused on servicing Brisbane and Sydney, while ATR’s played in Victoria. Iceman’s trucks add more of Queensland.
Redwood funded the Iceman acquisition via cash flow and debt. Scully also has plans to raise growth equity later this year.
Redwood North was advised by law firm Maddocks, corporate finance firm RSM and broker Phillips Basile Equipment Finance (PBEF).
Redwood North typically invests in businesses between $3 million to $8 million EBITDA.
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