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Ahrens acquires family-owned fit-out company
After more than three decades in business, a fit-out and refurbishment services company has been sold to Ahrens.
Melissa Coade
Firm: Kain Lawyers (Ahrens)
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Deal: A&P Parkes Constructions (A&P Parkes) has changed hands following a successful bid by Ahrens.
Value: Undisclosed
Area: M&A
Key players: Tim Hall and Brian Vuong from Kain Lawyers advised Ahrens on its purchase of A&P Parkes.
Deal significance:
A&P Parkes was established in Sydney over 30 years ago. The company services the banking sector with installation, fit-outs and refurbishment, as well as the maintenance of ATMs. It also undertakes general building works and refurbishment services for hotels, offices and stores.
A statement released by Kain Lawyers said that the acquisition is expected to “strengthen” the company’s national footprint, along the Australian east coast in particular.
Ahrens, a construction, engineering and fabrication company, currently has locations in every Australian capital city and “key rural communities” around the country.
Ahrens managing director Stefan Ahrens said he was “delighted” with the legal advice he received from start to finish.
“This was a significant transaction for Ahrens and [Kain Lawyers'] pragmatic and commercial approach ensured the acquisition ran smoothly,” Mr Ahrens said.
Kain Lawyers provided advice at every stage of the transaction, including the process of reaching agreement on the term sheet, due diligence and negotiating the final commercial terms.
