Tricon Energy, helped by Dentons, establishes Australia and New Zealand business

Dentons has announced that it assisted Tricon Energy with setting up its business in Australia and New Zealand as a part of its purchase agreement to acquire eXsource from Qenos.

The entities involved in this transaction were Tricon Energy, a Houston-based distribution, trading, and logistics firm; Qenos, a Victoria-based manufacturer, trader, and supplier of polyethylene; and eXsource, a specialty polymer distributor.

Under the agreement, Tricon Energy obtained eXsource's inventory, receivables, and branding, said the press release of Dentons. The agreement also provided for the integration of eXsource's workforce into Tricon Energy.

The global law firm helped Tricon Energy with the permanent establishment of its entities in Australia and New Zealand, with an asset purchase, and with the workforce transfer.

Deal team

Dentons’ cross-border deal team consisted of partner Caroline Snow and special counsel Kyla Brose (corporate, Australia); partner Chris Parke and senior associate Christine James (corporate, New Zealand); partner Edmund Burke (employment, Australia); and partner James Warren (employment, New Zealand).

“We are thrilled to have played a part in Tricon Energy’s strategic acquisition of eXsource, marking a significant milestone in their expansion into the Australasian market,” Snow said in the press release. “This move not only enhances Tricon Energy's distribution network but also enriches its human capital by integrating a skilled workforce.”

“Our cross-border team's collaborative approach and expertise in corporate structuring and employment law ensured a seamless transaction, underscoring Dentons' commitment to facilitating global business growth,” Parke added in the press release.

Dentons shared in the press release some details of its recent cross-border work, led by its corporate team. Specifically, the firm’s lawyers advised the following parties: Energy Fuels on its $375m acquisition of Base Resources; Starkey Technologies Inc. (US) on the sale of its retail hearing aid companies in Australia, Singapore, Malaysia, and Japan to Sonova AG (Switzerland); and Regal Rexnord Corporation on the sale of its global industrial motors and generators business to WEG.