Macquarie Bank Buys Inflation Company for US$470 million

A consortium led by the Macquarie Capital Alliance Group (MCAG), which is part of the Macquarie Bank Group, has acquired the world’s largest operator of tyre inflation vending equipment, ASI Holding Corp, for $US420 million. According to local news reports, MCAG will invest up to $109 million, which is up to 61 per cent of the total equity requirement of $179 million.

ASI Holding Corp, which trades as AIR-serv, operates more than 60,000 tyre inflation and vacuum vending machines at thousands of petrol stations and convenience stores in the US, Canada and the UK. “AIR-serv…is ideally positioned to grow in North America and the UK as well as expand into new markets, MCAG chief executive Michael Cook is quoted as saying.