The firm assisted on two sale transactions
Maddocks has confirmed its roles in two sale deals involved ASX-listed telco company Swoop Holdings Limited and international rubber manufacturer Baron Group.
The firm assisted Swoop with the divestment of its wholesale voice business Voicehub, which has been picked up by Pivotel Group Pty Ltd. According to lead partner Catherine Merity, the sale will “provide Swoop with balance sheet flexibility and funding growth across its core businesses”.
Merity was supported by senior associate Tanja Maley and lawyer Ashish Achar.
Baron Rubber business sale
Meanwhile, a Maddocks team led by commercial partner Julian Smith guided the founders of Baron Group in relation to the sale of the Baron Rubber business in Australia and China to Nasdaq Stockholm-listed Swedish company Trelleborg Group.
Baron Rubber's Australian operations and its manufacturing facilities in Shanghai and Zhejiang were divested through sale of shares to Trelleborg Group. The deal was completed on 17 July.
Smith was assisted by senior associates Naz Reda, Stephen Dyason and Jack Coventry in working on all aspects of the sale. The team collaborated with Moore Accountants in Australia, and Dentons and Deloitte in China.
Trelleborg was primarily advised by Junhe and PwC on the Chinese elements of the transaction.
“We are delighted to have assisted the founders of Baron Rubber with undertaking such a significant transaction and achieving an exit from the business which they have successfully built over almost five decades”, Smith said. “We are also excited to watch the further growth and development of Baron Rubber and its people under the Trelleborg banner”.
Baron Rubber designs, manufactures and supplies medical-grade silicone and rubber products. Trelleborg is an international engineering group specialising in polymer technology.
