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ABL works on $56m acquisition

ABL works on $56m acquisition

Law firm Arnold Bloch Leibler has acted for the owners of BRB Modular in its $56.5 million sale to Fleetwood Corporation._x000D_

LAW firm Arnold Bloch Leibler has acted for the owners of BRB Modular in its $56.5 million sale to Fleetwood Corporation.

The sale of Fleetwood, an ASX listed recreational vehicle and portable accommodation manufacturer, involved a total purchase price of $56.5 million, comprising of $31.5 million in cash to be funded using Fleetwood's facility with Westpac, as well as 2.5 million Fleetwood Corporation shares

BRB Modular is a Victorian-based company that manufactures and installs pre-fabricated modular buildings predominantly for public sector clients in Victoria, New South Wales and Queensland.

ABL said the acquisition gives Western Australian-based Fleetwood Corporation an entry to the public sector market. The sale also strengthens its existing presence on the east coast, the firm said. It also provides BRB Modular products the opportunity to enter markets on the west coast.

The transaction was led by Arnold Bloch Leibler partner Jonathan Wenig and senior associate Jeremy Leibler, together with lawyer Jeremy Lanzer.

ABL worked hand in hand with Coulter Roache, BRB's traditional counsel.

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