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Quadient advised on divestment of Graphics business
Lander & Rogers has advised Quadient on its divestment of its Graphics business in Australia and New Zealand.
Emma Musgrave
Firms: Lander & Rogers (Quadient); Quarles & Brady (Quadient); Mayfair Advisory (Smartech Business Systems Australia Pty); Mills Oakley (Smartech Business Systems Australia Pty).
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Deal: Quadient divested its Graphics business in Australia and New Zealand, selling it to Smartech Business Systems Australia Pty.
Value: $6 million, including $2 million in deferred payments.
Area: Finance, corporate.
Key players: The Australian team advising Quadient was led by Lander & Rogers corporate partner, Jared Smith.
Deal significance: Quadient’s Graphics business employs approximately 140 people, specialising on document finishing solutions, mailing fulfilment and large format and digital print solutions in Australia and New Zealand.
The divestment transaction by the Euronext Paris-listed company was driven by its “Back to Growth” strategy, with the Graphics business, with Quadient’s long-term partner Smartech becoming the distributor of Quadient’s Mail-Related solutions in Australia and New Zealand and continuing to serve Quadient’s more than 19,000 customers in the region.
From the legal side, US-based law firm Quarles & Brady led the transaction advising Quadient, working alongside Lander & Rogers, which managed Australian jurisdiction-specific requirements including the share purchase agreement and other transaction documents, as well as Foreign Investment Review Board (FIRB) approval requirements regarding foreign investment in Australia, which were the subject of major government changes on 1 January 2021, a statement confirmed.
“The changes included reinstatement of pre-COVID monetary thresholds, which were adjusted to $0 in March 2020 for all acquisitions subject to the FIRB regime. It’s positive news for foreign investors, which continue to show strong interest in the local market, particularly the real estate, energy and natural resources, finance and technology sectors,” Mr Smith said.
