find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Deal to expand accident replacement vehicle offering

Deal to expand accident replacement vehicle offering

Eclipx will expand the offering of new and used accident replacement vehicles to ‘not at fault drivers’ with the acquisition of Right2Drive Pty Ltd.

Firms: Clifford Chance (Right2Drive Pty Ltd); Herbert Smith Freehills (Eclipx Group Ltd)

Deal: Eclipx has entered into an agreement to acquire 100 per cent of the share capital of Right2Drive for net consideration of $67 million.  

Value: $67 million

Area: M&A/Banking and finance

Key players: Clifford Chance partner Lance Sacks led the team advising Right2Drive. He was assisted by counsel Joni Henry and associate Charles Wehbe.

Deal significance: Right2Drive is an accident vehicle replacement company, operating in 16 locations across Australia and New Zealand. Its fleet size has grown to 1,300 vehicles since 2012.

Eclipx Group Limited is a leading provider of fleet and equipment leasing and management, and vehicle rental to corporate, SME and consumers in Australia and New Zealand.

Shareholders of Right2Drive were advised on the proposed acquisition by Eclipx for net consideration of $67 million.

In a statement released by Eclipx, CEO Doc Klotz described Right2Drive as a promising venture operating in a "high-growth and underpenetrated market".

"This is an exciting, synergistic and strategic acquisition providing Eclipx with a platform to expand into the medium-term vehicle rental segment providing new and used accident replacement vehicles to 'not at fault' drivers," Mr Klotz said.

Clifford Chance partner Lance Sacks said the firm's role in advising shareholders in the deal reflected a commitment to Australia’s start-up culture.

"We are pleased to continue our commitment to the new start-up culture of business in Australia. This deal facilities the sale of a business with exponential growth to a more established model," Mr Sacks said.

As at 31 March 2016, Eclipx managed or financed 92,355 vehicles across Australia and New Zealand under five primary brand names, FleetPartners, FleetPlus,, FleetChoice and AutoSelect.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Deal to expand accident replacement vehicle offering
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...