Tag Archives: exit strategy

PRESS RELEASE: Johnsons Successfully Brokers the sale of Edington Agencies to Aldridge Capital

 

February 2019

 

 

 

EDINGTON AGENCIES PURCHASED BY ALDRIDGE CAPITAL AUSTRALIA

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to an Australian financial buyer. After facilitating a comprehensive end-to-end sales and negotiations process, our client – Edington Agencies – has been acquired by Aldridge Capital for an undisclosed amount. Based in QLD, Edington offers best practice solutions for electric motor and power transmission applications in HVAC systems. Aldridge Capital is an Australian investment company, based in Sydney that holds multiple industrial businesses in its portfolio.

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

In 2018 Edington’s director engaged Johnsons Corporate to undertake a strategic divestment campaign on his behalf. Having established and grown the Business since 1991, he thought the timing was right to pass ownership to a strategic suitor, who could best lead the Business on its next stage of growth.

Johnsons ran a ran a broad direct marketing campaign that targeted distributors of electrical motors, power transmission equipment and other related industrial products as well as service providers in the HVAC space. These efforts generated 28 expressions of interest, and Johnsons Corporate secured offer and acceptance within 10 weeks of going to market.

PRESS RELEASE: Johnsons Successfully Brokers the sale of Crown Project Services to Currie & Brown

 

December 2018

 

 

CROWN PROJECT SERVICES ACQUIRED BY CURRIE & BROWN

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to an international trade buyer in the industrial services sector. After facilitating a compre-hensive end-to-end sales and negotia-tions process, our client – Crown Project Services (‘CPS’) – has been acquired by Currie & Brown out of Hong Kong & London for an undisclosed amount. Sydney-based CPS specialises in the provision of Independent project management services to Australia’s property & infrastructure sectors. Currie & Brown is an international physical assets management and construction consultancy, providing services to both the public and private sectors.

The team at Johnsons were pleased to act as lead advisors to CPS and would like to extend our congratulations to both the Vendor and Purchaser.

Having established and grown the Business over 14 years, CPS’s managing director engaged Johnsons to assist with identifying a strategic acquirer to take the Business through its next growth phase. Following  a comprehensive research and marketing campaign – targeting both trade and financial buyers – Johnsons generated more than 18 expressions of interest from the market.

Regarding the transaction, David Hughes, who co-founded CPS and acted as the company’s managing director and chairman, remarked: “We are pleased to be part of Currie & Brown, as our operations are complementary and our cultures are aligned.  For staff and clients, it is ‘business as usual’, but we now have the advantage of being able to draw on the expertise of an international consultancy to provide clients with a broader range of services and experience in more sectors.”

PRESS RELEASE: Johnsons Successfully Brokers the sale of Torque Industries to Coventry Group Ltd

 

November 2018

 

 

 

COVENTRY GROUP ACQUIRES TORQUE INDUSTRIES

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to a related industry buyer. After facilitating a comprehensive end-to-end sales and negotiations process, our client – Torque Industries – has been acquired by ASX-listed Coventry Group Ltd. Operating in South Australia, Torque is a diversified engineering company with sales in excess of $14M, healthy EBIT margins and 35+ staff servicing a broad range of industry sectors. Coventry Group provides industrial solutions to the mining, construction and manufacturing industries with a turnover of approximately $150M

The team at Johnsons were pleased to act as lead advisors to Torque Industries’ directors and would like to extend our congratulations to both the Vendors and the Purchaser.

Torque’s shareholders had sought an exit to focus on other business interests and required a new owner to take the Business through its next growth cycle. The Business had previously undertaken a selective sale process via a corporate advisor. Although mild interest was generated, no deal eventuated. This time around they sought a different approach and appointed Johnsons Corporate.

Within 10 weeks of going-to-market Johnsons had undertaken site inspections with 4 interested buyers, secured indicative offers from 2, and completed Offer & Acceptance with Coventry Group Ltd. The due diligence and legals processes were both completed within 9 weeks.

PRESS RELEASE: Johnsons Successfully Brokers the sale of Northern RV Group to Fleetwood Corporation

 

November 2018

 

 

Northern RV Group acquired by Fleetwood Corporation

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to an
ASX-listed, public company buyer in the recreational vehicles (‘RV’) sector.

After facilitating a comprehensive, end-to-end sales and negotiations process, our client – Northern RV (‘NRV’) – has been acquired by Fleetwood Corporation Limited in Western Australia. Melbourne-based NRV specialises in supplying products and services to the fast-growing RV sector, with a turnover of approximately $16M and employing +70 staff. Fleetwood Corporation Limited (ASX:FWD) is a provider of accommodation solutions and recreational vehicles, parts and accessories. Fleetwood has 8 manu-facturing sites across Australia and over 250,000m2 of manufacturing capacity.

The team at Johnsons were pleased to act as lead advisors to NRV and would like to extend our congratulations to both the Vendor and Purchaser.

Having established & grown the Business over 12 years, NRV’s Managing Director engaged Johnsons to assist with identifying a strategic acquirer to take the Business through its next growth phase. Following  a comprehensive research and marketing campaign – targeting both trade and financial buyers – Johnsons generated more than 24 expressions of interest.

PRESS RELEASE: Johnsons Successfully Brokers the sale of Metco Industrial to ThoroughClean Australia

 

March 2018

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Photo: Jetstream Inc.

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to a synergistic trade buyer in the industrial services sector. After facilitating a comprehensive, end-to-end sales and negotiations process, our client – Metco Industrial – has been acquired by ThoroughClean for an undisclosed amount. Based in Adelaide, South Australia – Metco has long specialised in the design, assembly and manufacture of purpose-built ultra high pressure water cleaners (15,000 to 40,000 psi). ThoroughClean is a QLD manufacturer of mid-range high pressure water cleaners (2000 to 15,000 psi), supplying several market sectors including both light and heavy industrial.

The team at Johnsons were pleased to act as lead advisors to Metco and would like to extend our congratulations to both the Vendor and the Purchaser.

After 9 years progressing the R&D of Australian-specific high-pressure solutions and more than doubling sales over the last 5 years, Metco’s owner engaged Johnsons to lead a divestment campaign to identify a strategic acquirer to take Mecto to the next level. Following  comprehensive buyer research and a national marketing campaign – targeting both trade and financial buyers – Johnsons generated more than 39 Expressions of Interest and secured Offer & Acceptance within 12 weeks of going to market.

According to ThoroughClean’s CEO, the acquisition of Metco is an important step in achieving the company’s goal to become the leading supplier in Australia and New Zealand of a diversified range of high pressure water solutions.

For over 50 years Johnsons Corporate has specialised in the provision of business sales and acquisition services for mid-sized, private Australian companies. Our clients achieve great results because Johnsons’ approach is specifically designed for the mid-market business sector. Custom research and direct marketing capabilities, combined with expertise in sales and negotiations, create a service unavailable elsewhere in the field of traditional business broking and corporate advisory.