Downer EDI purchases utility specialists UrbanGrid Australia

BDO.LiveSite.Deals.IndustryNatural resources & Energy
BDO.LiveSite.Deals.SubIndustryRenewables & power
BDO.LiveSite.Deals.ClientNameUrban Grid

Our M&A team acted as the exclusive M&A sell side advisor to shareholders of UrbanGrid Australia. UrbanGrid is a leading provider of specialist Utilities services in Western Australia, operating in the Water, Power, Gas, Communication and Civil sectors. They are the largest provider of support services to the Perth metropolitan gas network owner.

On 1 August 2017 Downer EDI (ASX:DOW) purchased UrbanGrid Australia.

Speaking on the acquisition, Downer Executive Director of Utilities, Trevor Cohen said "We are very pleased to sign the BPA with UrbanGrid Australia, who are an excellent cultural and strategic fit for our Utilities business.“

"UrbanGrid Australia substantially expands our footprint and provides us with a platform as a full-service utilities service provider to take advantage of the growing Western Australia utilities market."

"The UrbanGrid Australia brand, people and management structures will remain and will transition into Downer's Utilities business.“

BDO’s role included:

  • Providing advice on commercial and financial structuring issues
  • Preparation of Information Memorandum and Financial Model
  • Preparing a list of potential acquirers
  • Contacting and chairing meetings with potential acquirers
  • Leading pricing and structuring negotiations
  • Managing the due diligence process
  • Project managing the legal teams for the completion of the sale and purchase agreement
  • General support of other matters required to complete the transaction.