Global legal practice Norton Rose Fulbright is acting for Australia’s first geotechnical engineering firm, Coffey International Limited, on a takeover bid by US-based Tetra Tech.
The two companies have entered into a bid implementation agreement under which Tetra Tech or its nominee will make an off-market takeover offer for 100 per cent of the Coffey shares on issue.
The deal positions both Tetra Tech and Coffey to benefit from the growth in the Australian infrastructure market and will bolster Tetra Tech’s standing as a leading global firm for international development.
Coffey, an ASX-listed company founded in 1959, employs 3,300 staff globally and provides smart solutions, innovation and insight in its core service areas of international development, geoservices and project management.
Norton Rose Fulbright worked with Coffey’s other advisor on the deal, Gresham Advisory Partners.
Norton Rose Fulbright partner John Elliott commented:
“A surge in activity for current and proposed Australian infrastructure projects has attracted attention the world over. It is no surprise then that a US company such as Tetra Tech is taking steps to strengthen its position in the Asia-Pacific with the acquisition of Coffey International. It has been pleasing to be able to advise Coffey on a deal that will allow it to broaden its expertise and offering to the market.”
A Sydney-based corporate team, led by John Elliott, was assisted by special counsel Ebony Keenan-Dunn and lawyer Lucinda Browne. US partner Dan Wellington will advise on US regulatory issues.