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Trio of global firms helps steer auto parts acquisition

Trio of global firms helps steer auto parts acquisition

Tom Story

Allens, Herbert Smith Freehills and Allen & Overy have advised on the $275 million acquisition of an automotive aftermarket parts wholesaler and distributor.

Firms: Allens (Burson Group Limited); Herbert Smith Freehills (Metcash Automotive Holdings); Allen & Overy (Morgan Stanley)

Deal: Burson Group Limited, an Australian trade company focusing on the distribution of automotive parts, has acquired Metcash Automotive Holdings, a wholesaler and distributor of automotive aftermarket parts and accessories.

Value: $275 million

Area: M&A

Key players: The Allens team was led by M&A Partner Tom Story (pictured) and Capital Markets Partners Julian Donnan and Rob Pick. Partner Andrew Wiseman handled the franchising law aspects of the deal, while partner Warwick Newell had the debt financing aspects covered. Another Allens partner, Fiona Crosbie, advised on competition law issues.

Herbert Smith Freehills partners acted for Metcash, while A&O partners advised financial services corporation Morgan Stanley, which handled the renounceable entitlement offer.

Deal significance: The acquisition will see Burson acquire 100 per cent of Metcash Automotive Holdings, which includes brands such as Autobarn, Autopro, Midas, Carparts and ABS. The acquisition is expected to significantly strengthen Burson’s national network.

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