Dewhurst Group Plc (AIM:DWHT) agreed to acquire remaining 25% stake in P&R Liftcars Pty Ltd from Roy Peat for AUD 2.9 million on February 21, 2024. Roy Peat will remain with the business in a full time capacity until at least September 2024 to enable an orderly handover. P&R Liftcars reported profit after tax of AUD 0.2 million and net assets of AUD 5.7 million for year ended September 30, 2023.

The transaction will be immediately earnings enhancing to shareholders of Dewhurst. Singer Capital Markets Limited acted as the financial advisor to Dewhurst Group.