HWL Ebsworth has advised RRC Nominees Pty Ltd on the sale of its Caterpillar dealership to Sime Darby Industrial Machinery Australasia Pty Ltd, a subsidiary of Sime Darby Berhad.
On 14 August 2023, the parties entered into a share sale agreement under which the buyer will acquire the entire share capital of the target companies from the vendors for a cash consideration of $500 million, subject to customary adjustments.
Cavpower is a Caterpillar Inc. dealership based in South Australia servicing primarily the mining, construction, and energy and transportation industries. It has 8 branches throughout South Australia outside of its Adelaide head office operating as a hub and spoke model for major customer repairs, machine build up and technology offerings. The territory is supported by a parts distribution network of 8 parts stores. The business uses this presence to service both mining and construction sectors, with major customers including blue-chip mining and construction companies.
Sime Darby is a listed multinational with more than 22,000 employees in 17 jurisdictions across the Asia Pacific. It is partner of choice for some of the world’s best brands in the Industrial and Motors sectors.
The HWL Ebsworth team was Brendan Earle (Lead partner), Daryl Lim and Yi Tung with tax advice from David Pratley (Sydney). Peter Campbell assisted with competition law issues.
Brendan Earle said:
“Having advised the Cavill family for many years, it was a privilege to advise on such a significant transaction both in commercial terms and as a milestone for the family.”
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HWL Ebsworth is the largest legal partnership in Australia according to the most recent partnership surveys published by the Australian Financial Review.
The firm comprises 1,710 staff including 277 Partners, 1,053 other legal staff and 380 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Melbourne, Hobart, Norwest (North West Sydney), Perth and Sydney.
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