Piper Alderman advises on bus sale in Queensland
05/07/2022
Piper Alderman has advised the Duffy family on the sale of their Bundaberg bus transportation business in Queensland known as Duffy’s City Buses to Kinetic.
Chris Duffy, of Duffy’s City Buses said:
“Selling the family business after 68 years was traumatic enough but the polished team from Piper Alderman led by Maria Capati, along with Kara Pennisi, made the sale of our transport business as easy as it could have been. Their knowledge of the industry, their attention to detail and guidance helped us feel comfortable throughout the transaction. Always felt confident in their approach. Could not recommend Piper Alderman highly enough.”
Duffy‘s City Buses has been a major bus operator in Bundaberg since 1954 and has provided town and school bus services to the area since that time.
The Piper Alderman deal team, led by Partner, Maria Capati, with Senior Associate, Kara Pennisi, advised the Duffy family on all aspects of the transaction including the obtaining of consent from the Department of Transport & Main Roads and the lease of the depot real estate.
Maria Capati commented on the deal:
“It was an absolute privilege to act for the Duffy family in this transaction. They are a wonderful family and they run a professional operation. This transaction was more emotional than usual, as Chris’ dad, Paul was one of the first operators that I acted for when I started working with Peter Dwyer back in 2005. Paul was battling serious health issues from the start of the transaction and he wanted to be there to see completion occur, but unfortunately he passed away just before the sale agreement was exchanged.”
The sale of Duffy’s City Buses to Kinetic adds another Queensland region to Kinetic’s large stable of Queensland businesses.
Maria is a commercial lawyer with significant advisory and M&A experience in the passenger transport sector. She has been involved in a number of transport transactions Australia-wide both on the sell-side and buy-side. She is also considered one of the foremost experts in Australia on Government passenger contracts.
Related media coverage:
- Qld-based family bus business sold – Lawyers Weekly, 28 July 2022
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Duffy’s sells after 68 years in business – Bundaberg Today, 28 July 2022