Australia: Middletons advises Qube Ports on its A$135 million acquisition of Giacci
Last Updated: 4 April 2012

Middletons advised Qube Ports in reaching a binding agreement to acquire Giacci Holdings for a purchase price of A$119 million plus a further A$26 million in assumed shareholder debt. Qube Ports operates bulk, non containerised stevedoring facilities around Australia, particularly in WA which is a focal area for the export of mineral products.

The transaction involved the acquisition of the Giacci group of companies – a well run, high quality business based in Bunbury, Western Australia with operations in Western Australia, South Australia and New South Wales. Giacci has built its business in the mining industry, specifically in mineral haulage and handling, providing mine to port solutions for the majority of its customers and, in most cases, assuming full responsibility for the supply chain.

Lead partner and member of Middletons' Transport, Logistics & Defence Group Michael Neylan said, "The acquisition of Giacci allows Qube to penetrate upstream in the transport chain from port to mine, thus providing a whole of supply chain service to the market. This is particularly attractive to large miners who have complex and overlapping freight tasks."

Qube Ports has enjoyed strong growth in the past few years on the back of the mining boom. The acquisition of the Giacci group includes a strategic land bank of properties in the Bunbury area, bringing Qube good prospects for industrial development as Bunbury becomes more significant as a transport hub.

"The completion of this deal is a significant milestone for Qube giving the company an enhanced logistics capability and hence huge opportunity to expand the range of services it offers," added Mr Neylan.

Middletons' Transport, Logistics & Defence Group has won a number of awards as a leading adviser in the sector. The geographic location of Australia has led to Australian companies being at the forefront of multi-modal transport systems involving land, sea and air transport and Middletons Transport, Logistics & Defence Group focuses exclusively on these sectors and the legal issues impacting on the way people and goods are moved around.

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