The deal marks the company's fourth acquisition in the engineering and construction sector
MinterEllisonRuddWatts has acted for Auckland-based investment firm CMSL Holdings in its acquisition of a 100% stake in Ashhurst Engineering and Construction.
The deal marks CMSL Holdings' fourth acquisition in the engineering and construction sector in recent times. The move is a part of the firm's ongoing efforts to expand its portfolio of specialised engineering and industrial services businesses.
MinterEllisonRuddWatts has worked with CMSL Holdings on a number of recent transactions in the industry, including the acquisition of Contract Mechanical Services, Bay Sandblasting, and Structural Coatings Services. CMSL Holdings was backed by MinterEllisonRuddWatts’ long-standing client NZ Equity Partners,
Neil Millar, partner at MinterEllisonRuddWatts, said that it has been a busy year for CMSL Holdings as the company continues to build a premium engineering and construction business portfolio. He noted that New Zealand’s industrial services industry is attracting significant attention from local and overseas investors, and it is a sector to watch with interest.
“It’s been a busy 12 months for CMSL Holdings as the team pushes forward in their plans to build a premium engineering and construction business portfolio. We are delighted to have assisted CMSL once again, achieving a successful outcome,” Millar commented.
MinterEllisonRuddWatts' core transaction team advised CMSL on the deal. The team was led by Millar and included Kate Lane, Jasmin Matthews, Rory Bryce, Tom Kennedy and Stella Gu. They were supported by a number of other partners, senior associates, and solicitors.
The team provided advice on all aspects of the transaction. Some of the team’s work include due diligence, drafting and negotiation of the share sale and purchase agreement, and assisting CMSL Holdings with financing documentation.
The latest acquisition of Ashhurst is expected to strengthen CMSL Holdings' position in the engineering and construction sector, enabling it to offer a wider range of specialised services to its clients.
