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Equipment hire company raises funds

Equipment hire company raises funds

Nick Abrahams, Norton Rose Fulbright

Plant Miner, a mining and construction site equipment hire company, has raised $3.5 million with the help of a global firm.

Firms: Norton Rose Fulbright (Plant Miner); Minter Ellison (Madad Ventures Pty Ltd)

Deal: Plant Miner completed a $3.5 million fundraising.

Value: $3.5 million

Area: Capital Raising

Key players: The Norton Rose Fulbright team consisted of partners Nick Abrahams and Marshall Bromwich, and associate Jordan Bird.

Deal significance: Plant Miner operates an online marketplace for sourcing hire equipment for mining and construction sites.

Plant Miner raised $3.5 million of funds, which will initially be used to consolidate and expand the Australian and New Zealand operations of the business before it grows overseas, according to a statement from Norton Rose Fulbright.

The fundraising, which was completed on 2 March, has set Plant Miner up to increase in scale before a potential capital raising or IPO.

Since 1 January 2016, Norton Rose Fulbright has also advised on Objective Corporation’s acquisition of Onstream Systems, Petstock’s acquisition of online New Zealand retail business and Netbox Blue’s sale to Bloomberg.

“The completion of this series of technology deals will help set these diverse companies up for a vibrant future,” said Nick Abrahams (pictured), APAC head of technology and innovation at NRF.

“Our decision in 2010 to name technology and innovation among our six global sectors of focus is as much about the support we can give early-stage and emerging tech companies as the opportunity for our people to rub shoulders with some of the most innovative entrepreneurs in the market.”

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