King & Wood Mallesons (KWM) has advised the shareholders of MatchBox Exchange on the company’s sale to ASX listed WiseTech Global. The sale comprises 100% shares in Matchbox Exchange, with a portion of the Purchase Price discharged by the issue of new shares in WiseTech Global.
MatchBox Exchange is a technology company that enhances supply chain efficiency and productivity by optimising landside movement of empty shipping containers through its open market platform that allows customers to re-use and exchange containers. This results in faster turn-around times, as well as reducing the cost and inefficiencies of transporting, hiring, de-hiring and storing empty containers.
The acquisition is a further example of the value being given to reliable, technology-driven and lower-emissions solutions to industrial and logistics activities as industry continues to decarbonise.
The KWM team was led by Practice Leader, Mergers & Acquisitions, David Eliakim, Special Counsel, Jared Nickig and Senior Associate, Hussien Kassouh from Mergers & Acquisitions, and Partner, Tim Sherman and Senior Associate, Victoria Lanyon from Tax.
Commenting on the deal, Special Counsel, Jared Nickig said:
“MatchBox Exchange was started only 7 years ago and its rapid growth and attractiveness to a company like WiseTech Global speaks volumes about not only the ingenuity, determination and commerciality of the founder, Carl Marchese and his team, but also to the evolution and consolidation that is occurring within the logistics and transport space globally”.
Further commenting on the deal, Practice Leader, Mergers & Acquisitions, David Eliakim said:
“It was terrific to work alongside the Sellers and the MatchBox Exchange team to help them achieve such a milestone, which now positions MatchBox Exchange for even greater growth and success within the WiseTech Global family.”
MatchBox Exchange operates in multiple jurisdictions (including Australia, India, Indonesia, Israel, New Zealand, Malaysia, Philippines Singapore, Taiwan, Thailand and Vietnam) meaning that significant cross border collaboration was required to complete the deal.
KWM continues to advise clients on market leading acquisitions, including recently advising APA Group on its $1.7 billion acquisition of Alinta Energy’s Pilbara business.
