Deal Profile | Gadens advises Silk Logistics Holdings on the acquisition of Secon Freight Logistics

Gadens has advised ASX-listed Australian logistics company, Silk Logistics Holdings Limited (ASX:SLH), on its acquisition of 100% of the shares in Secon Freight Logistics Pty. Ltd (Secon) on 31 August 2023 for cash and scrip consideration of $35 million plus a deferred earn-out component.

Silk Logistics Holdings Limited (Silk) is a leading national provider of port logistics, warehousing, and distribution services, with operations in all major Australian capital cities.

Freight industry leader, Secon, managed a partnership of trusts which carried on the freight logistics operations business through various asset owning entities. The acquisition has expanded Silk’s already firmly established national footprint and will assist in their significant growth journey.

Commenting on the transaction, partner Melissa Phillips said:

“We are delighted to have assisted Silk with its successful acquisition of Secon Freight Logistics Pty. Ltd. This acquisition marks another significant milestone for Silk and we are proud to have been their trusted advisor as part of this acquisition and to support Silk along its growth journey.”

Practice groups: Corporate, Banking & Finance, Intellectual Property and Technology, Workplace Advisory and Disputes, Real Estate and Construction.

Value: Approx. $35 million plus earn-out.

Key team members: Corporate partners Jol Rogers and Melissa Phillips led on the transaction, with support from Daphne Chiang, Lawyer (Corporate), and Banking and Finance partner Elliot Raleigh and senior associate Isabella Barnes.