DLA Piper advises UK-based sawmiller on strategic acquisition
DLA Piper has advised Scottish sawmilling company James Jones & Sons Limited on their acquisition of approximately 60 per cent of the family-owned Hyne Timber business, a sixth generation, family owned company with an annual turnover of AUD$380M in the year ending 30th June 2021.
“We were absolutely delighted with the advice, professionalism and speed of response provided by Lyndon Masters, Alex Samson and the DLA team. They had excellent commercial awareness and a very proactive attitude, and we look forward to partnering with them as we establish ourselves further in Australia and New Zealand via future acquisitions,” said Tom Bruce Jones, Chairman, James Jones & Sons Limited.
“We are pleased to have partnered with James Jones & Sons Limited on this acquisition, which now provides them with a strong platform for further consolidation and growth in Australia and New Zealand,” said Lyndon Masters, Partner, DLA Piper.
“It was a complex transaction, involving a staged shareholder offer and approval process, placement of warranty and indemnity insurance and approval from the Australian Foreign Investment Review Board” said Lyndon.
The transaction involved collaboration during the due diligence process across various DLA Piper teams in Australia and New Zealand.
The DLA Piper team was led by Lyndon Masters (Partner) and Alexander Samson (Senior Associate). Lyndon and Alexander were assisted by Mim Sherington, Sara de Haan, Andrew Heiner, Luyan Yu, Tom Keyser, Nicholas Turner, Clancy King, Jessica Lim, Hugh Raisin, Kate Pickthall, Kate Howson, Dylan Somers, Rhys Davies, Mariko Hunt, Nicholas Boyle, Claire Kermond, Reuben Woods (NZ), Greg Mitchell (NZ), Tim Galland (NZ), Chelsea Copland (NZ), and Jordan Jeffcoat (NZ).
For the 12th consecutive year, DLA Piper was the highest-ranked legal advisor in the world for M&A deal volume, according to Mergermarket's league tables. The firm was involved in 1,104 transactions worldwide in 2021, valued at approximately US$242 billion.
“Our deep experience in complex cross-border M&A, and our international team, ensured the efficient completion of the transaction,” Lyndon said.