By Digifin Pty Ltd · About this coverage
Key Points
- Ares withdraws conditional non-binding indicative scheme proposal
- Exclusivity Deed from 3 Sep 2026 to be terminated by MaxiPARTS
- Ares had begun due diligence after data room access
- Focus shifts to Air Brake Systems acquisition and strategic plan
- Company cites positive FY27 trading conditions without figures
About MaxiPARTS (ASX:MXI)
MaxiPARTS Limited is an ASX-listed distributor of parts for commercial and heavy vehicles, headquartered in Melbourne. It supplies aftermarket truck and trailer parts through a branch network in Australia and distributes workshop consumables through its Forch Australia business. Its customers include transport operators, fleets, repairers and resellers.
MaxiPARTS (ASX:MXI) Ltd says Ares Management Asia Singapore Pte. Ltd has withdrawn its conditional non-binding indicative proposal to acquire 100% of MaxiPARTS via a scheme of arrangement, ending the exclusivity process announced on 3 September 2026.
Ares had been given data room access and had commenced due diligence under an Exclusivity Deed. Ares has now advised it will not proceed with a proposed transaction, and MaxiPARTS will terminate the Exclusivity Deed in accordance with its terms. The company says it has observed positive trading conditions through the first few months of FY27 and continues to anticipate further growth and financial improvements in FY27. It will focus on completing the acquisition of Air Brake Systems, continued execution of its strategic plan, and ongoing delivery of shareholder value.
The announcement does not restate the withdrawn proposal's price or other terms, and does not quantify the FY27 trading or earnings outlook.
Source: MaxiPARTS Limited (ASX:MXI), 22 September 2026. Summary content supplied by Digifin Pty Ltd.
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