Tag Archives: divestment

PRESS RELEASE: Power Protect sold to BGIS Asia Pacific

March 31, 2022

Canberra-headquartered Power Protect operates satellite offices in Sydney, Melbourne, and Adelaide.

A JOHNSONS CORPORATE DIVESTMENT

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to a synergistic trade buyer. After facilitating a comprehensive, end-to-end sales and negotiations process, our client – Power Protect Pty Ltd – has been acquired by BGIS Asia Pacific for an undisclosed amount. Canberra head-quartered Power Protect is one of Australia’s leading independent providers of critical power services for commercial markets, while BGIS Asia Pacific is a subsidiary of Brookfield Global Integrated Solutions Canada LP – a global leader in facility management services.

The team at Johnsons were pleased to act as lead advisors to Power Protect’s managing director and would like to extend our congratulations to both the vendor and the purchaser.             

In 2021, Johnsons was engaged by Power Protect to undertake a national sales campaign. After 12 years building the Business, its managing director was seeking a new owner / merger partner with the resources and capabilities to help leverage the Business into a national footprint. Within 4 weeks of going to market, Johnson’s proactive approach had secured written offer and acceptance from the Canadian multinational.

PRESS RELEASE: iZone sold to Rinnai Australia

November 6, 2023

A JOHNSONS CORPORATE DIVESTMENT

iZone smart climate controller

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to a multinational enterprise. After facilitating a compre-hensive, end-to-end sales and negotiations process, our client – iZone – has been acquired by the Australian arm of Japan’s Rinnai Corporation for an undisclosed amount. iZone operates as a developer, contract manufacturer, and distributor of proprietary smart home air-conditioning & automation systems. Rinnai is a leading global equipment brand that manufactures and supplies a wide range of commercial and domestic heating, cooling, and hot water systems.

The team at Johnsons were pleased to act as lead advisors to iZone’s directors and would like to extend our congratulations to both the vendor and the purchaser.          

In late 2022, iZone’s directors engaged Johnsons to undertake an international divestment campaign on their behalf. Having developed and commercialised a proprietary range of smart home technology solutions, the Vendors sought a strategic or financial acquirer with the resources and capabilities to lead the Business through its next phases of growth and expansion.

Johnsons’ marketing campaign, based on custom research, spanned the Australian and selected overseas markets – targeting vendors of similar technologies as well as organisations in adjacent sectors and financial buyers investing in the mid-market space. Within 12 weeks of going to market, Offer & Acceptance was secured with iZone’s preferred buyer. After the successful completion of the strongly synergistic acquisition, Rinnai’s Australian general manager, Dan Tosh, commented: “Rinnai can now work towards delivering a seamless HVAC solution and after-sales support of equipment and controls.”

PRESS RELEASE: Optical Fibre Systems sold to Madison Group Enterprises

November 1, 2023

A JOHNSONS CORPORATE DIVESTMENT

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to a related trade buyer. After facilitating a comprehensive, end-to-end sales and negotiations process, our client – Optical Fibre Systems (“OFS”) – has been acquired by Madison Group Enterprises for an undisclosed amount. Based in Queensland, OFS is a leading provider of optical fibre solu-tions and services for the electricity and telecommunications sectors. Madison Group Enterprises is comprised of Australian businesses that specialise in the design, development and distribution of leading connectivity products and technologies.

The team at Johnsons were pleased to act as lead advisors Optical Fibre’s directors and would like to extend our congratulations to both the Vendor and the Purchaser.

In early 2023, the owners of Optical Fibre engaged Johnsons Corporate to undertake a national divestment campaign on their behalf. After 30+ years of successfully operating the Business they had built from scratch, the directors wanted to setup a formal succession plan by bringing in a new owner.

The sales strategy designed for OFS involved the creation of a custom research database of prospective trade buyers, operating in the same or an adjacent industry sector. After reaching out to the directors of those companies, Johnsons Corporate secured Offer & Acceptance within 8 weeks of going to market and closed the transaction 12 weeks later. On behalf of OFS’s owners, director Don Rush commented: “I’m not sure how I can put into words my thanks for what you have done for us… Based on my experience I would always advocate that people use a broker.  I can see now that without professional help you have a very difficult path to tread.”

PRESS RELEASE: Pumpseal Sales sold to DGL Group

July 1, 2023

A JOHNSONS CORPORATE DIVESTMENT

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to a related trade buyer. After facilitating a comprehensive, end-to-end sales and negotiations process, our client – Pumpseal Sales Pty ltd – has been acquired by Pump Engineers Pty Ltd for an undisclosed amount. NSW-based Pumpseal is a long-standing, family run wholesale distribution business specialising in the sales and service of industrial pumps, related equipment, and wear parts. From its headquarters in VIC, Pump Engineering too has long operated in the supply and installation of specialised industrial pumping equipment.

The team at Johnsons were pleased to act as lead advisors to the directors of Pumpseal Sales and would like to extend our congratulations to both the vendor and the purchaser.

In 2023, Pumpseal’s second-generation directors decided it was time to step back and set in place an exit strategy for their retirement. They engaged Johnsons to undertake a divestment campaign which would present the Business as an ideal bolt-on opportunity for a related trade buyer. Johnsons custom research and direct marketing efforts resulted in three non-binding offers, with the vendors opting to proceed with the one that represented the best commercial and cultural fit. “We felt commercially Pump Engineers were the best fit to take the Business forward and provide continuity for our staff and customers,” remarked Pumpseal’s director Gary West. For Pump Engineers, the acquisition serves as the basis for its expansion into the NSW market while also extending its portfolio of equipment brands.

PRESS RELEASE: Triox Pesticides sold to DGL Group

July 1, 2023

A JOHNSONS CORPORATE DIVESTMENT

Triox’s NSW-based manufacturing facility.

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to an ASX-listed trade buyer. After facilitating a comprehensive, end-to-end sales and negotiations process, our client – Triox Pty Ltd – has been acquired by DGL Group (ASX:DGL) for an undis-closed amount. NSW and VIC based Triox is a niche developer & manufac-turer of advanced pesticide products, formulated for applications in agricul-tural and home & garden settings. DGL Group is a market leader in chemical formulation and manufac-turing as well as in related warehous-ing & distribution, waste management, and environmental solutions.

The team at Johnsons were pleased to act as lead advisors to the directors of Triox and would like to extend our congratulations to both the vendors and the purchaser.

In 2022, after more than 25 years in operation, Triox’s three directors engaged Johnsons to assist with their exit strategy. They sought a strategic buyer who would have the capabilities and appetite to continue servicing Triox’s long-standing customer base of leading pesticide brands, agricultural suppliers, and home & garden retailers.

Using custom research, Johnsons’ direct marketing efforts resulted in 38+ expressions of interest from a diverse range of prospective trader acquirers. After multi-party negotiations and then securing Offer & Acceptance with our client’s preferred buyer, Johnsons worked diligently to bring the transaction to completion in a timely manner.

PRESS RELEASE: Acuneeds Australia sold to Seirin Corp.

July 2021

A JOHNSONS CORPORATE DIVESTMENT

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to an international trade buyer. After facilitating the sales process from negotiations through settlement, our client – Acuneeds Australia – has been acquired by Seirin Corporation for an undisclosed amount. Founded in 1985, Acuneeds pioneered the supply of acupuncture needles to Australia and today also distributes a range of other alternative-healthcare supplies as well as herbal medicines. Japan-based Seirin is a leading manufacturer of acupuncture needles, made from the highest quality surgical stainless steel.

The team at Johnsons were pleased to act as lead advisors to Acuneeds’ director and would like to extend our congratulations to both the vendor and the purchaser.

In 2021, Acuneeds engaged Johnsons to act as its lead advisor in responding to an unsolicited acquisition offer, which had been received from one of its key suppliers, Seirin. The directors felt the timing was right for a sale of the Business, especially in light of the many synergies between the two companies. After successfully negotiating mutually acceptable ‘terms of offer’, Johnsons was further mandated to facilitate the due diligence, legals and settlement processes.

Commenting on the sales process, Acuneeds owner, Georgina Talbot, stated: “It was Johnsons’ prior experience in a similar deal with an overseas supplier as the acquirer that finally convinced me to engage them. In the end, they played a critical role in completing the sale. Looking back, I had no idea of the level of detail and expertise that would be demanded by things like negotiating a term sheet, undergoing due diligence, and completing legal contracts. Throughout the whole process, Johnsons managed the fine balancing act of getting the best result for Acuneeds and myself, while ensuring our relationship with our supplier and new owner stayed on track.”

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PRESS RELEASE: Integrated Technical Software sold to Sweden’s Strusoft

January 2022

A JOHNSONS CORPORATE DIVESTMENT

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to an international trade buyer. After facilitating a comprehensive, end-to-end sales and negotiations process, our client – ITS Integrated Technical Software – has been acquired by StruSoft for an undisclosed amount. Based in Geelong, ITS is the company behind SPACEGASS, a leading Australian structural engineering application. Sweden headquartered StruSoft AB, in turn, markets highly specialised software for structural analysis & design to customers around the world.

The team at Johnsons were pleased to act as lead advisors to ITS’s director and would like to extend our congratulations to both the vendor and the purchaser.                  

In 2021, after 30+ years growing the proprietary SPACEGASS application into Australia’s leading structural engineering solution, ITS’s director engaged Johnsons Corporate to conduct an international sales campaign. The objective was to find a strategic acquirer with the capital and resources to open new international markets for the software package.

Using custom research, Johnsons’ direct marketing efforts resulted in 35+ expressions of interest from domestic and overseas parties alike and from both trade and financial investors. After negotiating and securing Offer & Acceptance in a timely manner, Johnsons then worked diligently with our client’s preferred acquirer to bring the cross-border deal to completion prior to the end of the calendar year.

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PRESS RELEASE: Yellow Octopus sold to Marlin Group

February 2021

A JOHNSONS CORPORATE DIVESTMENT

Yellow Octopus operates from warehouse premises in Moorabbin.

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to a strategic trade buyer. After facilitating a comprehensive, end-to-end sales and negotiations process, our client – Yellow Octopus – has been acquired by Marlin Brands for an undisclosed amount. Based in Melbourne, Yellow Octopus is one of Australia’s leading brands in the online giftware space, offering a variety of products to suit any occasion. Also VIC-based, Marlin Brands owns and manages a portfolio of consumer product businesses with a focus on the living, gifting and convenience segments.

The team at Johnsons were pleased to act as lead advisors to Yellow Octopus’ director and would like to extend our congratulations to both the vendor and the purchaser.                  

In 2019 after growing the Business over a short period of time into an award-winning brand, Yellow Octopus’ director engaged Johnsons Corporate to conduct a national sales campaign. The objective was to find a strategic acquirer with the capital and resources to help take the Business to the next level. Having secured Offer & Acceptance in a timely manner, Johnsons then worked diligently over many months to bring the deal to completion in the face of significant Covid-19 induced challenges.

Commenting on the sales process, Yellow Octopus owner Derek Sheen explained: “Navigating the sale of Yellow Octopus to an overseas-backed private equity firm several-hundred times larger than my business was challenging, but ultimately very fruitful. However, I simply would not have been able to successfully traverse the sale process without the expertise and guidance from Johnsons Corporate.”

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PRESS RELEASE: Ausdeck Group sold to Alpin Group

March 2021

A JOHNSONS CORPORATE DIVESTMENT

The Ausdeck Group is comprised of four interrelated business units. Each operates from an independent site under its own management team.

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to a financial buyer. After facilitating a comprehensive, end-to-end sales and negotiations process, our client – Ausdeck Group – has been acquired by Alpin Group for an undisclosed amount. Based in Queensland, Ausdeck Group represents a collection of specialised manufacturing businesses, primarily serving the Australian home improvement and construction industries. The Australian buyer, Alpin Group, is an integrated investment and advisory house focused on privately-owned enterprises with operations in Australia and/or New Zealand.

The team at Johnsons were pleased to act as lead advisors to Ausdeck’s directors and would like to extend our congratulations to both the vendor and the purchaser.     

In early 2020, Johnsons was engaged by Ausdeck’s founder to undertake an international divestment campaign, with a view to finding a strategic acquirer for the Business. His objective was to exit his shareholding, crystalising historical growth, while ensuring continuity for the Group’s businesses, their long-dedicated management teams, and employees. In the face of many Covid-19 induced challenges, Johnsons secured Offer & Acceptance and successfully brought the deal to completion.

Commenting on the divestment experience, Ausdeck’s founder Stewart Craig remarked: “I guess to sum it all up, the team at Johnsons led me through the whole process and provided invaluable guidance along the way. They assisted me to overcome numerous obstacles, which were unforeseen from my perspective and managed the multiple stakeholders from beginning to end.”

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PRESS RELEASE: Fluid Power Services sold to Coventry Group

May 2021

A JOHNSONS CORPORATE DIVESTMENT

Fluid Power’s long-standing Devonport premises.

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to a strategic trade buyer. After facilitating a comprehend-sive, end-to-end sales and negotiations process, our client – Fluid Power Services – has been acquired by Coventry Group Ltd for an undisclosed amount. Based in Tasmania, Fluid Power is a long-established provider of hydraulic engine-eering services to customers in the Mining & Metals, Infrastructure, Trans-port & Logistics, Building & Construction Timber, and Industrial Services sectors. ASX-listed Coventry Group provides industrial solutions to the mining, cons-truction and manufacturing sectors.

The team at Johnsons were pleased to act as lead advisors to Fluid Power’s directors and would like to extend our congratulations to both the vendor and the purchaser.                  

In 2019 after growing the Business for almost 30 years, Fluid Power’s directors engaged Johnsons Corporate to conduct a national divestment campaign. They sought to exit the Business and create a succession plan for its future continuity by way of a sale to a third party. In the face of Covid-19 induced challenges, Johnsons secured Offer & Acceptance in late 2020.

Commenting on the sales process, Fluid Power’s Richard Lawson explained: “As they say timing is everything, and Johnsons stayed with us every step of the way to complete the transaction. In the end it may have taken us longer than we first thought, but both of us are extremely happy with the result. We can’t recommend Johnsons highly enough. Coventry Group is a great fit with Fluid Power, and we couldn’t have gotten here without them.”

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