Brickworks advised on ‘innovative’ Wall as a Service JV
Australian manufacturing business Brickworks has been advised on the formation of a 50/50 joint venture company with FBR Limited.
Firm: King & Wood Mallesons (Brickworks Limited); Unknown (FBR Limited)
Deal: The new joint venture, Fastbrick Australia Pty Ltd (Fastbrick), will provide Wall as a Service to the Australian market, with a focus on residential construction.
Key players: The KWM team was led by partner David Friedlander, who was supported by partner Scott Bouvier, senior associates Jo Ruitenberg and Lauren D’Ambrosio and solicitor Henry Sit.
Deal significance: The collaboration with robotic technology company FBR gives Brickworks exclusive rights to supply concrete masonry blocks which have been optimised specifically for use with FBR’s brick-bot, Hadrian X, KWM said in a statement.
Mr Friedlander added: “We are pleased to have advised Brickworks on the formation of Fastbrick. The joint venture will potentially allow for the commercialisation of the Hadrian X, when used in combination with materials developed specifically by Brickworks for this purpose.”