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Qld-based family bus business sold
National law firm Piper Alderman has advised on the sale of a business transportation business in Bundaberg, Queensland.
Jerome Doraisamy
Firm: Piper Alderman (Duffy’s City Buses)
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Deal: The Duffy family has been advised on the sale of its bus transportation business, Duffy’s City Buses, to Kinetic.
Value: Undisclosed
Area: Corporate, commercial, merger and acquisition, transport
Key players: The Piper Alderman team was led by partner Maria Capati, who was supported by senior associate Kara Pennisi. The team advised the Duffy family on all aspects of the transaction, including the obtaining of consent from the Department of Transport and Main Roads and the lease of the depot real estate.
Deal significance: Duffy’s City Buses has been a major bus operator in Bundaberg since 1954 and has provided town and school bus services to the area since that time, the firm said in a statement.
Speaking about the deal, Ms Capati said that it was an “absolute privilege” to advise the Duffy family.
“They are a wonderful family and they run a professional operation. This transaction was more emotional than usual, as Chris’ dad, Paul was one of the first operators that I acted for when I started working with Peter Dwyer back in 2005,” she said.
“Paul was battling serious health issues from the start of the transaction and he wanted to be there to see completion occur, but unfortunately he passed away just before the sale agreement was exchanged.
“I know that many will be sad to see the Duffy family exit the bus industry, but Lyn, Chris and Nella certainly deserve to wind down after their years of hard work. I thank them for choosing me to lead them through this transaction during what was certainly a difficult time for them.”
Chris Duffy, of Duffy’s, also noted: “Selling the family business after 68 years was traumatic enough but the polished team from Piper Alderman lead by Maria Capati, along with Kara Pennisi, made the sale of our transport business as easy as it could have been.
“Their knowledge of the industry, their attention to detail and guidance helped us feel comfortable throughout the transaction. Always felt confident in their approach. Could not recommend Piper Alderman highly enough.”
