The firm said the deal reflects how NZ tech companies are drawing the eyes of global investors
DLA Piper has helped global private equity firm Accel-KKR to acquire fleet maintenance and compliance software provider Whip Around.
Launched in New Zealand, Whip Around is a cloud-based inspection and maintenance platform digitising workflows for vehicles, equipment and job sites. According to DLA Piper, the transaction highlights investors’ interest in New Zealand-established technology companies that have scaled into significant offshore markets like North America.
Accel-KKR is expected to leverage its M&A experience to guide Whip Around on acquisitions that could complement its offerings and further its growth strategy. The PE firm is also set to provide operational resources, per a media release put out by the two companies.
Corporate M&A partner Reuben Woods led DLA Piper’s New Zealand team on the transaction. He received support from Steph McQuaid, Tayla McEntee and Sneha Kant. Also pitching in on other legal aspects of the acquisition were Michael Thompson (finance), Pavanie Edirisuriya (regulatory), Nick Valentine (IPT), Justin March (real estate), Laura Scampion (employment) and David Johnston (tax).
Joydeep Dasmunshi headed up DLA Piper’s US team.
Accel-KKR invests in software and tech-enabled businesses. It has over US$23 billion in cumulative capital commitments.
