Baker & McKenzie advises owners of Algeco Scotsman on the acquisition of Ausco Modular
27 May 2011
Sydney, Australia, 27 May 2011 – Baker & McKenzie advised TDR Capital, the owners of Algeco Scotsman, on the acquisition of Ausco Modular from Waco International. The transaction was signed in May 2011.
Ausco Modular is a provider of modular, relocatable, portable and transportable buildings to the mining, energy, education, building, construction, commercial, industrial, healthcare and government sectors in Australia and New Zealand.
Algeco Scotsman is the world’s largest modular space and storage solutions group with a fleet of more than 300,000 units through Europe and the Americas. TDR Capital is a private equity firm based in the United Kingdom and currently manages fund commitments of approximately €2.6 billion.
Mark McNamara, partner in the Firm's Sydney office and head of the Firm's Global Private Equity practice, led the transaction with the assistance of Private Equity partner Julie Hutton, Corporate consultant Glen Selikowitz and Banking and Finance partner George Harris.
Speaking about the transaction, Mark McNamara said, "The TDR Capital team brought a great deal of knowledge and understanding of the modular building industry and were able to move quickly and efficiently to conclude the transaction in the face of the IPO alternative being considered by Ausco's owners. This acquisition continues to underline the trend of international private equity-backed companies taking a more active interest in the Australian market."
Partner Julie Hutton said, "We are delighted to have assisted TDR Capital in supporting Algeco Scotsman’s continued global expansion with this major investment in Australia and New Zealand."
Freehills advised Waco International.