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Clutz acts on acquisition of WA firm
Clayton Utz has advised NYSE-listed company Clarcor on the purchase of WA’s Modular Engineering Company.
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Firms: Clayton Utz (Clarcor Incorporated) Rowe Bristol (sellers – four individuals who owned Modular Engineering Company)
Deal: NYSE-listed company Clarcor Incorporated acquires 100 per cent of the shares of Perth-based company Modular Engineering Company Pty Ltd
Area: Corporate
Value: Undisclosed
Key players: Clayton Utz’s Perth corporate partner Mark Paganin led the firm's team, including senior associate Andrew Hart (admitted in England and Wales, not admitted in Australia) and lawyer Tracy Chew, in achieving a successful completion of the deal for Clarcor
Deal significance: Modular, a manufacturer of natural gas filtration products and distributor of after-market elements based in Henderson, outside of Perth, has been a long-time supplier to Clarcor's industrial/environmental filtration segment. Pursuant to the terms of the acquisition, Modular's former owners will remain with the business following completion of the acquisition. Clarcor’s CEO, Chris Conway, said Modular was a “leader in the production of skid-mounted equipment in Western Australia, at the epicentre of the natural gas boom for the Asia-Pacific region”.
