MHM Automation Limited (NZSE:MHM) agreed to acquire business from Southern Cross Engineering Ltd. on December 14, 2020. The purchase price will be calculated through an earn out in the period from settlement to January 13, 2023. MHM will be offering employment to around 20 SCE staff, being a mix of design, engineering, controls, electrical and workshop based staff. The acquisition is conditional, with the conditions expected to be satisfied on or before December 18, 2020. If confirmed, the acquisition is due to settle on January 11, 2021.

MHM Automation Limited (NZSE:MHM) completed the acquisition of Business of Southern Cross Engineering Ltd from Southern Cross Engineering Ltd. on January 12, 2021. As part of the acquisition, the business will continue operate from the SCE Christchurch premises with a team of 23 staff.