Phillips Fox recently acted as legal adviser to Melbourne-based crane company BOOM Logistics Limited on six acquisitions in the lead up to its initial public offering on October 14 (reported in Lawyers Weekly 24 October).
Over the past five months, Phillips Fox undertook due diligence inquiries in relation to the six acquisitions of mobile crane businesses in Western Australia, Victoria, New South Wales and Queensland. The firm advised BOOM on its first acquisition of Brambles Goldfields cranes in July.
The Phillips Fox team drafted and negotiated all transaction documentation and successfully completed all acquisitions for the remaining five businesses, with a total contract value of approximately $42 million. BOOM Logistics successfully raised $27 million via its initial public offering on the Australian Stock Exchange to complete the acquisitions.
The Phillips Fox team was lead by Melbourne partner, Mark Burger with support from partners Judy Earls, Gerry Bean, Steven Casper and Monique Stella. Other lawyers in the team included Alastair Macphee, Sean Tully, Naomi Kelly, Mark Stevens, Sarah d'Oliveyra, Michael Jackson, Sarah Doyle and Melissa Gaddie.