HRL Holdings Ltd Takeover by Australian Laboratory Services Pty Ltd
McCullough Robertson’s Corporate M&A team has advised HRL Holdings Ltd on its $82.2 million off-market takeover by ALS Limited’s (ASX: ALQ) wholly owned subsidiary Australian Laboratory Services Pty Ltd (ALS).
HRL Holdings is an emerging environmental services company with operations in Australia and New Zealand, specialising in integrated field sampling, laboratory analysis and cloud hosted asset management.
We advised HRL Holdings throughout the takeover process, including negotiating the bid implementation deed, preparing the target’s statement and assisting to conduct the related due diligence procedures, and advising on its contractual and statutory obligations.
Ultimately, an ASX announcement was made on 12 August to announce that ALS’ relevant interest threshold was met after the release of the target’s statement to the market, allowing HRL Holdings to be compulsorily acquired.
Lead Partner, Ben Wood comments “our team utilised its transactional expertise to achieve HRL Holdings’ desired timetable, and to provide a seamless and streamlined experience for the client on this high-value takeover”.