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Essendon Fields company snapped up by Japanese used-car dealer

Essendon Fields company snapped up by Japanese used-car dealer

Red car and white cars

Clarendon lawyers has advised the founders and shareholders of the Andrews & Wallis Motor Group (AWMG) on the sale of AWMG to IDOM Inc’s Australian subsidiaries.

Firm: Clarendon Lawyers (AWMG); Squire Patton Boggs (IDOM)

Deal: Clarendon Lawyers has advised AWMG’s founders and shareholders on its sale to IDOM Inc.

Value: Undisclosed

Area: M&A

Key players: Clarendon’s team was led by managing director Tony Symons and senior associate Brendan Seehan. Assistance was given by Caroline van Grieken and Ferguson Ryder.

Deal significance: The transaction comprised the sale of 95 per cent of total issued share capital in AWMG’s three group companies of Airport Motor Group Pty Ltd, Fields Motor Company Pty Ltd and Wirraway Motor Company Pty Ltd, as well as the business and assets of Montague Motor Company Pty Ltd and Andrews & Wallis Motor Group Pty Ltd.

It is now the biggest used-car dealer in Japan and owns DVG Automotive Group, based in Perth, which operates 24 dealerships.

In commenting on the deal, Mr Symons congratulated AWMG’s founders on their successful exit, which he said was the result of decades of their involvement in the car dealership industry.

“We have had the pleasure of being AWMG’s trusted M&A adviser for some time now and have witnessed first-hand the growth and success that they have achieved,” he said.

“This transaction is a great result for the founders after building a terrific business together over many years,” Mr Symons noted, saying also that it “illustrates the high level of cross-border deals that we are seeing at the moment.”

“We were delighted to partner with Deloitte’s Motor Industry Services team, who ran an excellent competitive bid process and showcased their extensive automotive industry experience and global reach,” he continued.

 

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