Law firm Addisons was delighted to advise the shareholders of Force Fire Holdings Pty Ltd (Force Fire) on the sale of Force Fire to Southern Cross Electrical Engineering Limited (SCEE). The shareholders include long-standing client Anacacia Capital, who Addisons advised on their original investment into Force Fire in 2017.
SCEE agreed to acquire 100% of Force Fire for a total consideration of up to $53.5m. The shareholders of Force Fire were also advised by Greenstone Partners and HLB Mann Judd.
Force Fire Holdings is a leading New South Wales and Queensland-based provider of fire safety solutions to the commercial and industrial sectors.
The Addisons team was led by Partner Daniel Goldberg, with support from Solicitor Cathy Tran.
Partner Daniel Goldberg said, “Our congratulations to the management and shareholders of Force Fire. It has been a pleasure to work with the group over a number of years to support its strategy and continued success. This new chapter should position the business well for further growth and delivering on its passion for keeping people and properties safe. The transaction shows the market’s appetite for quality businesses with recurring revenues supported by regulatory tailwinds.”