Baker McKenzie acted for NASDAQ and TSX listed BRP Inc. (BRP) on an agreement to acquire 80 percent of Telwater Pty Ltd (Telwater), Australia’s leading manufacturer of aluminium boats and trailers.
The transaction represents an ongoing commitment to Australia by BRP, a global client of Baker McKenzie.
Once the intended acquisition is completed, Telwater will join the BRP Marine Group as an independent product line, along with the Evinrude, Alumacraft and Manitou brands. This will allow BRP to increase and strengthen its position in the aluminum boat industry in regions with excellent growth potential. Having this manufacturing footprint in Australia will give BRP additional options for supporting other product lines in the future.
Lead partner Andrea Kennedy said “We are delighted to have worked with BRP on this transaction, which is part of the group’s strategy to transform the marine industry and further its goal of becoming a leading global marine company by investing in the current leader in this region. BRP already had a strong existing relationship with Telwater and this represented a great opportunity to reinforce its presence in Australia.”
The transaction is subject to customary closing conditions, including regulatory approval and is expected to complete at the end of June 2019.
The core team advising BRP in Australia were lead partner Andrea Kennedy, competition partner Georgina Foster and associates Sam Mossman and Stephanie Szkilnik.