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Firms advise on million-dollar transport acquisition
Middletons and Taylor Smart & Co have advised on million-dollar transport acquisition.
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Firms: Middletons (Qube Ports), Taylor Smart & Co (vendor group)
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Deal: Acquisition of Giacci
Area: Transport
Value: Purchase price of $119 million plus a further $26 million in assumed shareholder debt.
Key players: Lead partner and member of Middletons’ transport, logistics and defence group
Michael Neylan (pictured) led the transaction, with support from senior associate Demetrios Christou. Philip Patterson was the lead partner for Taylor Smart out of East Perth, Western Australia.
Deal significance: Qube Ports operates bulk, non-containerised stevedoring facilities around Australia, particularly in Western Australia, which is a focal area for the export of mineral products. The transaction involved the acquisition of the Giacci group of companies – a well- run, high-quality business based in Bunbury, Western Australia, with operations in WA, SA and NSW. “The acquisition of Giacci allows Qube to penetrate upstream in the transport chain from port to mine, thus providing a whole of supply-chain service to the market. This is particularly attractive to large miners who have complex and overlapping freight tasks,” said Neylan.
