McCullough Robertson has acted on behalf of the shareholders of Gold Coast-based Rock Drilling Australia in its merger with Techdrill Services and subsequent acquisition by Harbert Australia Private Equity (Harbert).
The transaction creates a new Australian company, Techdrill Civil & Mining Services (TCMS), which offers diverse drilling capabilities across both the construction and resources sectors.
Harbert acquired 45% of TCMS, giving the company access to capital to continue to grow its business.
McCullough Robertson assisted with the structuring of the transaction and advised in respect to all transaction documentation.
TCMS provides mobile greenfield and brownfield drilling services to a large number of resource exploration companies, and trenchless drilling services and horizontal directional drilling capabilities to infrastructure companies in the electricity, water, sewerage and telecommunications sectors.
The McCullough Robertson lawyers involved in the transaction were Partner Damien Clarke and Senior Associate Louise Horrocks.