Onsite sold to Sime Darby for $635m
Australian business-to-business equipment rental service provider Onsite has been sold to Sime Darby Allied Operations.
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Firm: MinterEllison (Onsite Rental Group Limited)
Deal: The sale of Onsite to Sime Darby, which was completed on 3 April 2023, involved the sale of the entire issued share capital of Onsite to Sime Darby for cash consideration of $635 million, Minters said in a statement, and is subject to customary adjustments for working capital, capital expenditure and stocktake.
Area: Merger and acquisition
Value: $635 million
Key players: The Minters team was led by partners Daniel Scotti and Nicole Sloggett, who were supported by Joshua Waters, Edward Elliott, Liam Tomlinson, and Michael Swain, as well as firm specialists in property, employment, planning, IP, IT and finance.
Deal significance: Mr Scotti said: “We congratulate the parties on achieving this milestone transaction in challenging economic conditions. The transaction demonstrates the resilience of the Australian market and the quality of Onsite’s business and management team.”
Ms Sloggett added: “We were pleased to support Onsite in achieving a great result in this transaction. The sale will help Onsite to expand its operations, access new markets and enhance its offering to accelerate growth and contract wins.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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