Australian conveyor chain maker acquired by world-leader in the market

Thomson Geer has advised global chain manufacturer Renold Plc on its acquisition of Australian maker and distributor of high-quality conveyor chain, Davidson Chain, for A$6 million.

Thomson Geer acted for Renold's Australian arm, Renold Australia Pty Ltd, advising on all aspects of the acquisition including transaction documentation, due diligence, competition and cross border matters.

The acquisition increases Renold's access to the Australian conveyor chain market and provides opportunities for significant manufacturing synergies between both operations.

Renold produces power transmission products that are applied across a wide range of uses, including cement making, chocolate manufacturing, escalators, quarries and even bike chains for elite cyclists.

The Thomson Geer team was led by Partner Eugene Fung who said: "We are pleased to have helped Renold enter the Australian market through its acquisition of Davidson Chain. It grows Renold's geographic footprint and strengthens its market position in key markets."

Renold Group Chief Executive Robert Purcell said in a statement: "We are delighted that Davidson has joined the Renold Group, and believe that not only have we acquired an excellent business, but also retained the services of a very experienced team."

Eugene was supported by Associate Jake Breydon and Partner George Lukic who advised on competition matters.

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