Global law firm Norton Rose Fulbright has advised Heyday5 on its sale to Southern Cross Electrical Engineering Limited (SCEE). Heyday5 is a leading Sydney-based electrical contracting business and SCEE is an Australian electrical, instrumentation, communication and maintenance services company headquartered in Perth and recognised for its industry leading capabilities.
The transaction combines two well-established, culturally aligned electrical contracting businesses operating in complementary sectors and geographies.
Heyday5 has a strong presence in east coast commercial and infrastructure markets and SCEE have described the transaction as a transformational acquisition which will deliver enhanced diversification, with Heyday5’s east coast market exposure highly complementary to SCEE’s existing business mix of resources, industrial and telecommunications.
Heyday5 has a reputation for project delivery and has established relationships with tier 1 construction companies and property groups. Heyday5 has achieved strong growth in the current financial year, with budgeted full year revenue of $152 million and EBIT of $9.8 million. The combined group will have a diversified portfolio of projects across Australia and an order book of over $300 million.
The owners and management of Heyday5 have remained with the Heyday5 business under SCEE ownership and David Hammond, executive director of Heyday5, has joined the SCEE Board as an executive director.
Norton Rose Fulbright Partner Richard Fogl, who led the deal, commented:
“This is an important step in the evolution of Heyday5 and a great result for its highly experienced executive team. We are pleased to have advised on the legal aspects of the transaction, including its negotiation.”
Richard Fogl was assisted by Senior Associate Matthew Nelson and Associates Mariam Jacob and Alice Winter-Irving.
For further information please contact:
Alex Boxsell, Senior Brand & External Communications Manager, Norton Rose Fulbright in Australia
Tel: +61 (0)2 9330 8165 Mob: +61 (0)414 985 556
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