Deal profile | Gadens advises Pickles management on sale of Pickles Auctions
5 August 2022
Leading national law firm Gadens has advised management of Pickles Auctions Pty Ltd (Pickles) in relation to the sale of Pickles Auctions, Australia’s leading marketplace for vehicles, industrial, and salvage assets, to funds advised by Apax Partners LLP (Apax), a global private equity firm.
Gadens assisted management to restructure their compensation and equity arrangements to align the Company, its management and shareholders for more growth and success.
Commenting on the deal Matt Egerton-Warburton, Partner, said, “Congratulations to Apax and the management and shareholders of Pickles on reaching agreement for the sale of majority stake in Pickles.”
“Pickles is a great Australian story and their success came about due to a unique combination of a visionary, hard-working family in partnership with an industry leading management team (who were developed and supported by the family). Pickles contains long term staff who have grown up with the Company and who have planned and managed their recent strong growth.”
Practice groups: Corporate, Workplace Advisory and Disputes.
Key team members: The Gadens team was led by Partners Matt Egerton-Warburton (Corporate) and Louise Rumble (Workplace Advisory and Disputes). Cross-practice assistance for the Gadens team came from the Banking and Finance and Tax practice groups.