Firm: K&L Gates (TechSafe); Undisclosed (Service Stream Ltd)
Deal: TechSafe has been acquired by Service Stream Ltd
Key players: The legal team advising TechSafe was led by K&L Gates Melbourne corporate/M&A partner John Mann (pictured), with assistance from senior associate Malcolm Lum and lawyer Nicolas Lee.
Deal significance: TechSafe provides inspection, auditing and compliance services throughout Australia to electricity network owners, electricity industry regulators, government entities and electrical contractors.
According to a statement from K&L Gates, it is Australia’s largest independent electrical inspection company.
K&L Gates advised TechSafe on all legal aspects relating to the sale of 100 per cent of both TechSafe Australia Pty Ltd and TechSafe Management Pty Ltd shares to ASX-listed company Service Stream.
"We are pleased to have worked collaboratively with all corporate and legal advisers involved in the sale to achieve a result that will provide Service Stream with added revenue diversification and additional annuity-style revenue, and also recognised TechSafe's market leading position,” said Mr Mann.