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Alex Fraser Group deal touted as strategic acquisition
The acquisition of a recycling and asphalt business by Hanson Australia is part of the company’s ongoing growth strategy, according to legal advisors for the deal.
Melissa Coade
Firms: King & Wood Mallesons (Hanson Australia); Undisclosed (Swire Group)
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Deal: Hanson Australia has acquired Australia-based recycling and asphalt business Alex Fraser Group (Alex Fraser) from UK-based Swire Group.
Value: Undisclosed
Area: M&A
Key players: KWM partner Adrian Perkins led the deal. He was assisted by senior associate James Slimnicanovski and solicitors Will Mason, Sam Monk and Will Bartlett.
Deal significance:
Alex Fraser is an Australia-based recycling and asphalt business which provides recycled construction materials. Established in 1879, it has a network of facilities across Melbourne and Brisbane.
The business was listed for sale by UK-based Swire Group in 2017.
KWM, who acted for Hanson Australia in the acquisition of Alex Fraser, said that the purchased was part of the company’s growth agenda. Lead partner Adrian Perkins added that Hanson Australia was a long-time client of the law firm.
“We are really pleased to have partnered with our long-standing client Hanson on another strategic acquisition, which will support its ongoing growth strategy in aligned industries,” Mr Perkins said.
KWM advised Hanson on a number of strategic acquisitions, including its $203 million acquisition of Fletcher Building’s Rocla Quarry Products business.
