Japanese construction company builds Australian presence
A Tokyo-based company specialising in homebuilding has made a strategic acquisition in Sydney.
Firms: Baker McKenzie (Daiwa House Industry Co., Ltd.); undisclosed (Rawson Group Pty Ltd)
Deal: Daiwa House acquired Rawson Group.
Key players: The Baker McKenzie team advising Daiwa was led in Tokyo by partner Tetsuo Tsujimoto and senior associate Tsubasa Kubota, and in Sydney by senior associate Lawrence Mendes and associate Emily Hunter.
Deal significance: Daiwa House, Japan’s largest homebuilding company, reached an agreement to acquire Australia’s Rawson Group, the fifth-biggest homebuilder in NSW.
The deal marked an expansion of Daiwa House’s Australian operations. It was part of a strategy to acquire overseas businesses with medium to long-term growth potential, according to statement from Baker McKenzie.
“We were delighted to act for our client Daiwa House Industry in acquiring the Rawson Group – a 40-year-old private corporation focused on land development and the construction of single-family homes in Sydney,” said Ben McLaughlin (pictured), head of corporate markets in Australia at Baker McKenzie.
The deal is subject to conditions precedent including FIRB [Foreign Investment Review Board] approval.
Pictured: Ben McLaughlin