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NQ’s largest privately owned stevedoring business sold
One of South Australia’s leading port services group has acquired the largest privately owned stevedoring business in North Queensland.
Emma Musgrave
Firm: Holding Redlich (Flinders Port Holdings); Undisclosed (Townsville Bulk Storage & Handling)
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Deal: Flinders Port Holdings has acquired Townsville Bulk Storage & Handling.
Value: Undisclosed
Area: M&A
Key players: The legal team advising Flinders Port Holdings was comprised of Holding Redlich partners Scott Alden, Harry Kingsley, Nathan Cecil and Stephen Trew.
Deal significance: Flinders Port Holdings is described as South Australia’s leading port services group, and owner of Flinders Ports, Flinders Logistics and Flinders Adelaide Container Terminal – the state’s only container operator.
This deal sees Flinders Port Holdings acquire 100 per cent ownership interest in Townsville Bulk Storage & Handling, which is the largest privately owned stevedoring business in North Queensland.
According to a statement from Holding Redlich, the acquisition will fast-track Flinders’ expansion outside South Australia and significantly increases its network.
“This was a complex transaction involving a number of specialists at Holding Redlich, and it was particularly rewarding to work closely with the Flinders’ internal team comprising Adam Cooper (legal), Mark Travers (financial) and Andrew Pellizzari (operational),” said lead partner for the deal, Scott Alden.
“The newly acquired business ‘Flinders TBSH’ will go from strength to strength, assisted greatly by the vendor’s continued involvement in the coming years.”
