Baker McKenzie successfully advised Shawcorp Investments on its agreement to sell  Modular Building Systems (MBS) to Fleetwood Corporation for $34 million.

MBS is based in New South Wales and specialises in the manufacture and installation of prefabricated modular buildings. MBS is one of two builders on a panel appointed to build modular cells for the NSW Government. MBS also has the Australian rights to use all patented steel prison cell designs belonging to US company Maximum Security Systems for 10 years.

Baker McKenzie senior associate Tharani Dharmaraj stated: "At present, Fleetwood does not have operations in the Sydney market and this will be a game changer for their business. The deal represents significant value being realised on both sides of the transaction."

Baker McKenzie's head of corporate in Australia, Ben McLaughlin stated: "We are delighted to have acted for our client, Shawcorp Investments, on the sale of MBS. Sydney based, MBS provides Fleetwood a significant opportunity to gain a stronghold in the NSW corrections, education and commercial sectors, through MBS's impressive facility in Western Sydney."

The Baker McKenzie team was led by: Tharani Dharmaraj, with assistance from Ben McLaughlin, Kathryn Schultz and Emily Hunter.

Jeff Roberts from M&A Mergers and Acquisitions Perth Office acted as financial adviser to Shawcorp Investments.

Recently, Baker McKenzie was ranked #1 again (4 years out of 5) for The Acritas Asia Pacific Law Firm Brand Index 2018.

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