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Allegroâs Questas nabs Swanson Industries, two more deals
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Allegro Funds-backed hydraulics and water brands owner Questas Group has bolted on three hydraulics services businesses, including $70 million a year Swanson Industries Australia.
Allegro Funds co-founder and Questas director Chester Moynihan said his private equity firm had set out to back company founder Kede Carboni and management to grow the business when it took a majority stake in June 2019.
Questasâ brands design, make and repair hydraulics used in heavy industrial equipment, as well as water pumps and irrigation systems. Â
Vincent Mundy
Part of the growth strategy includes M&A, which has been realised recently. Questas has acquired Hunter-based Swanson Industries Australia from its offshore parent, as well as hydraulics businesses Meadow Industries (also in NSW) and Queensland based Nordon Cylinders.