New Zealand firm Hesketh Henry acted for Melbourne-based Verticon Group, on its $45 million acquisition of Christchurch-based Daniel Smith Industries. Both companies are in the tower and mobile cranes and hoists hire business.
Buddle Findlay acted for Daniel Smith. The transaction will give Verticon a strong entry into the New Zealand market while retaining the expertise and experience of the Daniel Smith team.
Partner Geoff Hosking led Hesketh Henry’s team on the deal, which he said required careful analysis of New Zealand’s Personal Property Securities Act and its impact on the contracts taken over by Verticon.
“It was a good deal for both parties,” Hosking said. “It was nice to work on a deal where both parties came away with a win.”