SCF and Vibernum in Vautron buyout
US private equity firm SCF Partners and Australia’s Viburnum Funds have acquired a majority stake in the newly created Vautron Group as part of a buyout transaction.
SCF first acquired the Western Australian-based Nortrus business from Viburnum, and then bought the Vause Group, which operates in Australia and New Zealand. It intends to merge the two businesses to form Vautron, which will be jointly managed by SCF and Vibernum, The Lawyer reported.
The Vause Group is an oil and gas equipment and wireline service provider which operates in New Zealand and in Queensland, Australia, while Nortrus trades under the Surtron name, and provides logging and directional drilling services to the mining, minerals and coal seam gas sectors.
Law firm Mallesons Stephen Jaques advised SCF on its acquisition of Nortus and Vause's Australian operations, and Russell McVeagh acted on the New Zealand-based parts of the deal. Vause was advised by Auld Brewer Mazengarb & McEwen.
Mallesons M&A partner Lee Horan, who led a team consisting of senior associates Ryan Thorne and Kate Lindner, solicitors Peggy Ching, Bianca Doja and Rod Aldus and law graduate Iris Eow, commented: "This was a very interesting and challenging transaction, involving complicated group restructuring and joint venture structure. It also requires extensive and high-level coordination with multiple parties across different jurisdictions to effect a smooth and successful completion."
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