Special Counsel Andrea Hetherington and Principal Mark Woolley of McInnes Wilson Lawyers' Commercial team recently acted for Verifact in the sale of its traffic management business.
Verifact Traffic Pty Ltd, operated since 2007 by Directors Jarrod Bowditch and former Wallaby Daniel Crowley, was acquired by AVADA Group Ltd in January 2022 for $11 million simultaneously with its Initial Public Offering and listing on the ASX. Consideration for the transaction was a combination of cash and equity.
Andrea and Mark assisted the client through all aspects of the sale transaction, including:
- Contract negotiations;
- Extensive purchaser due diligence tying into Avada's proposed IPO;
- Completion of the transaction; and
- All post-completion matters.
The sale transaction included the prior acquisition by Verifact Traffic of a number of smaller traffic management businesses which were amalgamated into Verifact's larger operations. McInnes Wilson Lawyers also assisted with the asset acquisitions for these purchases.
Avada Group Ltd, with Daniel Crowley as its Managing Director and CEO, now operates integrated traffic management services, including:
- Planning and permits;
- Traffic control;
- Equipment hire;
- Events management; and
- Emergency services.
If you would like to see how we can assist you with the sale of your company, please contact Andrea Hetherington via (07) 3014 6539 or ahetherington@mcw.com.au.
Special Counsel
Managing Principal