The accretive acquisition is expected to boost the buyer’s EPS by about 16% in FY2017
Clayton Utz has advised Tox Free Solutions Ltd on its successful acquisition of Daniels Health Pty Ltd and Daniels Manufacturing Pty Ltd.
The acquisition, which was announced on 26 October, was completed at the start of the month. The total consideration for the acquisition was $186 million, subject to adjustments.
Clayton Utz partner Mark Paganin and senior associate Stephen Neale led the firm's team, which includes partner Stuart Byrne, special counsel David Benson, senior associate Sam Fiddian and lawyers Kaley Ohariw, Thomas Parker and Annella Cox.
ASX-listed Tox Free, an environment, waste management and industrial services provider, acquired 100% of the shares and related assets of Daniels health and Daniels Manufacturing, a firm that provides medical waste solutions, collection and treatment in the Australian healthcare sector.
Clayton Utz also advised Tox Free in relation to its successfully completed $85 million fully-underwritten 1 for 3.9 pro-rata accelerated non-renounceable entitlement offer, undertaken to partly fund the acquisition.
The deal represents a total synergy potential of $4.2 million within two years of ownership while EPS accretion is expected to be about 16% in FY2017 on a full-year pro forma basis excluding synergies.
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The acquisition, which was announced on 26 October, was completed at the start of the month. The total consideration for the acquisition was $186 million, subject to adjustments.
Clayton Utz partner Mark Paganin and senior associate Stephen Neale led the firm's team, which includes partner Stuart Byrne, special counsel David Benson, senior associate Sam Fiddian and lawyers Kaley Ohariw, Thomas Parker and Annella Cox.
ASX-listed Tox Free, an environment, waste management and industrial services provider, acquired 100% of the shares and related assets of Daniels health and Daniels Manufacturing, a firm that provides medical waste solutions, collection and treatment in the Australian healthcare sector.
Clayton Utz also advised Tox Free in relation to its successfully completed $85 million fully-underwritten 1 for 3.9 pro-rata accelerated non-renounceable entitlement offer, undertaken to partly fund the acquisition.
The deal represents a total synergy potential of $4.2 million within two years of ownership while EPS accretion is expected to be about 16% in FY2017 on a full-year pro forma basis excluding synergies.
Related stories:
Clayton Utz confirms financial closure of $16.2b lease deal
HSF advises founders on sale of Supagas for over $300m
