Piper Alderman advises on sale of GTH Equipment’s telehandler fleet to Coates
05/03/2024
Piper Alderman has advised GTH Equipment and its related entities on the sale of their fleet of telehandler and access equipment to Coates.
Since 1997, GTH Equipment has been providing telehandler and access equipment rental services to customers throughout New South Wales, Australia. With a fleet comprising more than 650 assets, along with their innovative telematics and GPS fleet monitoring technology, founder Chris Crane was able to grow GTH Equipment into an industry leader in the telehandler and access equipment rental industry.
GTH Equipment’s fleet of assets was acquired by Coates, Australia’s largest equipment rental company, who also took on GTH Equipment’s headquarters in Smithfield and hard-working employee base as part of the transaction.
The transaction was complex given it proceeded as an asset sale, requiring parties to facilitate the transfer of 650+ assets, the assignment and novation of GTH Equipment’s customer and supplier contracts, as well as the transition of property leases and employees.
The Piper Alderman deal team was led by partner, Sina Kassra, with partner, Marcus Andrews, advising on the lease and real property components of the transaction. They were supported by Sam Blight (Senior Associate), Samiha Asim (Lawyer), Tom Kaldis (Lawyer), Merna Isaac (Lawyer) and Kimberly Anthonissen (Paralegal).
Sina Kassra said in relation to the deal:
“It is always a pleasure to assist clients with realising the value of their life’s work, especially given that Chris and team have been cultivating the GTH Equipment business for more than 25 years. Effecting a sale transaction by way of an asset sale always has its challenges, but working with Chris and Roger from MaxCam Capital made it a breeze.”
This deal exemplifies and adds to Piper Alderman’s considerable experience advising on M&A transactions in the equipment rental and infrastructure sectors, both on the buy‑side and sell-side.
Related media coverage
- Piper Alderman assists GTH Equipment on complex asset sale – Australasian Lawyer, 8 March 2024