Buddle Findlay Advises Price Industries on First Foray To New Zealand and Australia

Powered by LawFuel – Buddle Findlay was recently lead counsel to Price Industries Limited, a Canadian company specialising in commercial HVAC, on its acquisition of an interest in the air management solutions business of Holyoake Industries Limited in New Zealand and Australia.

Headquartered in Winnipeg, Price Industries is one of North America’s leading commercial HVAC manufacturers and suppliers. Distributing its products worldwide, the company employs 14,000 people and generates annual revenues of $US3.41 billion ($NZ4.77 billion). The acquisition of Holyoake Air Management Solutions is the first major foray into New Zealand and Australia for Price and will create a powerhouse in the Australasian HVAC industry to be known as “Holyoake by Price”.

Founded in 1953 by Noel Holyoake, Holyoake Air Management Solutions has grown to become a leading manufacturer of commercial HVAC products for the Australasian market.

Buddle Findlay advised Price on all aspects of the transaction including investment terms, due diligence, employment, regulatory approvals, financing, real estate leasing, intellectual property protection and future technology transfer.

The trans-Tasman deal was led by corporate partner Grant Dunn, assisted by special counsel Benjamin Sutton, and involved a large multi-disciplinary team from Buddle Findlay, including Susie Kilty (partner), Hamish Selby (special counsel), Mere King (senior associate), Jessica White (senior associate), Jonathan Simons (senior associate), Jessica Seo (senior solicitor).