HSF advises founders on sale of Supagas for over $300m

Supagas which supplies over 1 million LPG cylinders yearly was bought by Japan’s biggest industrial gas maker, Taiyo Nippon Sanso Corp.

HSF advises founders on sale of Supagas for over $300m
Herbert Smith Freehills advised the founders on the sale of the Supagas group, together with its associated properties throughout Australia, Japan’s biggest industrial gas maker, Taiyo Nippon Sanso Corp.
Together with HSF, Goldman Sachs and PwC, the founders conducted a competitive sale process which saw Supagas acquired by TNSC (Australia) Pty Ltd (TNSC Australia).
On 18 November 2016, the founders signed agreements for the sale of the Supagas group and associated properties to TNSC Australia for over $300 million. Completion is expected to occur later this year.
HSF advised on all aspects of the sale transaction, including pre-sale structuring and diligence, transaction documentation and strategy, warranty & indemnity insurance and the sale of properties located throughout Australia.
The team was led by executive counsel Ben Landau (corporate M&A) and partners Baden Furphy (corporate M&A) and David Sinn (property).
They were supported by solicitors Jenny Altherr, Robert Prosser and Elizabeth Goodman (Corporate M&A), and senior associate Carla de Luca and solicitors Emma Larkin and Lamberg (property). Specialist advice was provided by partner Matthew Bull (competition), executive counsel Natalie Perrin (employment) and special counsel Michael Voros (environment), partner Martin MacDonald, senior associate Melanie Chan and solicitor Mary Griffiths (banking).
Established in 1968 by the Haddrell family, Supagas is a family-owned Liquid Petroleum Gas (LPG) and industrial gases manufacturing and distribution business, headquartered in Dandenong, Victoria, Australia.
Supagas supplies over one million cylinders of LPG annually and employs approximately 275 people across four manufacturing facilities and 16 branches, located in five states and territories in Australia.

Related stories:
Weekly Deals Roundup: M&A and capital raisings dominate the week
HSF, Clayton Utz act in financing for large US-listed firm acquisition

Free newsletter

Subscribe to our FREE newsletter service and we’ll keep you up-to-date with the latest breaking news, cutting edge opinion, and expert analysis affecting both your business and the industry as whole.

Please enter your email address below and click on Sign Up for daily newsletters from Australasian Lawyer.

Recent articles & video

KHQ Lawyers welcomes two to principal solicitor team in Melbourne

Pitcher Partners appoints one to principal, five to partnership

IBA condemns Hong Kong security law as ‘contrary to the norms of international law’

HSF managing partner embraces innovation and technology in a COVID-19 world

Carter Newell strengthens insurance team with new special counsel

US BigLaw firm cuts associates despite government loan

Most Read Articles

Clayton Utz rings in new financial year with new deputy chief executive partners

$65m equity raising for ASX-listed tech company sees completion with K&L Gates’s help

Baker McKenzie appoints seven to practice and industry leaders in APAC

Mills Oakley welcomes three to partnership in major promotion round