G+T is advising ASX-listed SG Fleet Group on its acquisition of LeasePlan ANZ, a leading provider of fleet management and leasing services in Australia and New Zealand, from the global LeasePlan Corporation, for a combination of cash and SG Fleet shares. As part of the transaction, SG Fleet will enter into an international alliance with LeasePlan Corporation covering international customer and business opportunity referrals. The acquisition is accompanied by a $86.3 million equity capital raising (ANREO) launched simultaneously with the acquisition.
The deal will create for SG Fleet a highly compelling fleet management and leasing offering in a dynamic market across Australia and New Zealand, and international opportunities with the alliance arrangement.
The G+T team was led by Corporate Advisory partner and co-head of the Corporate Advisory group, Costas Condoleon, who said he was particularly delighted the firm was able to help SG Fleet achieve such a successful outcome. Costas Condoleon said “The LeasePlan acquisition is transformative for SG Fleet and creates significant scope for synergies and the ability to add scale across its operations. We are excited to be a part of their growth”.
Supporting Costas on all M&A aspects and overall deal lead was Corporate Advisory partner Kevin Ko and lawyers Wes Bainbridge, Syavie Ghamry, Rebecca Ching and Arda Reznikas. Partner Adam D’Andreti led the capital raising with support from lawyers Xavier Keary and Kevin Zhou. Partner Elizabeth Avery and lawyer Haidee Leung are advising on regulatory matters and partner Andrew Hii and lawyer Meaghan Powell advised on transitional services.
The deal is expected to close later this year.