The Carlyle Group
In January 2008, Kerry Stokes' National Hire Group took over alongside private investors The Carlyle Group the equipment rental company Coates, de-listing it from the ASX. The hire businesses of Coates and National Hire were merged to consolidate the two largest hire companies in Australia, creating "Coates Hire". On 25 October 2017, SGH acquired the remaining 53% from The Carlyle Group as well as from other minority owners for $517 million. SGH had first invested in Coates Hire, alongside The Carlyle Group and exiting management in 2008 through its WesTrac subsidiary.