Maxim’s directors are recommending the deal to shareholders, and will announce a meeting to vote on the deal shortly. The board hopes to complete the transaction by the end of June, and no later than August 20.
Maxim was built through a series of acquisitions, in the period from 1999–2004, building up a network of 35 depots in six regions across the US, before going into chapter 11 bankruptcy protection for a number of months. After returning to normal trading, it first announced plans to sell the business in August 2006.