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Blockbuster electrical inspection company sold

Blockbuster electrical inspection company sold

John Mann

A global firm has advised the largest independent electrical inspection company in Australia on its acquisition by an ASX-listed business.

Firm: K&L Gates (TechSafe); Undisclosed (Service Stream Ltd)

Deal: TechSafe has been acquired by Service Stream Ltd

Value: Undisclosed

Area: M&A

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.

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