Thursday 2nd September 2021 |
Text too small? |
Leading New Zealand law firm MinterEllisonRuddWatts has, together with Herbert Smith Freehills in Australia, advised Australasia’s most-awarded and largest transformation and turnaround private equity firm, Allegro Funds, on its acquisition of Toll Global Express (TGE).
It is a landmark deal for Allegro and the culmination of months of work. TGE is a highly diversified transportation and logistics business with a network across Australia and New Zealand. It provides express parcel, freight delivery and domestic forwarding services in Australia, and transport and contract logistics services in New Zealand.
MinterEllisonRuddWatts advised on the New Zealand aspects of the acquisition, as well as the debt funding arrangements for the transaction which included debt backed by Scottish Pacific (in respect of receivables financing) and Gordon Brothers (in respect of asset financing).
Corporate partner Mark Stuart led the firm’s merger and acquisition advice with support from property partner David Gilbert, whilst banking partner Steve Gallaugher led the financing team on the deal with Simon Gray (Special Counsel).
On completion of the deal, Mark Stuart commented: "We are delighted to have worked alongside the team at Allegro to help them on this significant acquisition. It is particularly satisfying being able to complete the transaction smoothly given the current lockdowns in Australia and New Zealand."
Khosrow Kyanian, Allegro Investment Manager commented: "The team at Allegro are extremely grateful to the MinterEllisonRuddWatts team for all of their help on what was a highly complicated trans-Tasman transaction and a landmark deal for Allegro."
Allegro believes that Toll Global Express’ people and its assets can deliver strong growth in the future. This business has an important role to play as an enabler for e-commerce which will be crucial in the economic recovery of Australia and New Zealand post COVID-19.
For more information contact:
Janine Brennan-Lynch | National Marketing Communications Manager, MinterEllisonRuddWatts Email: janine.brennan-lynch@minterellison.co.nz, Tel: +64 (0)9 353 9856
Source: MinterEllisonRuddWatts
No comments yet
FPH - Notification of Issue of Securities
Fletcher Building reports FY22 result, final dividend 22cps
NZA - Resignation of Auditor
August 17th Morning Report
CMC - Retirement and Appointment of Directors
Senior Leadership Team Changes
CHI - Half Year Results and Audio Conference Details
Mercury results reflect transformative year
PGW - Annual Results Announcement to 30 June 2022
August 16th Morning Report