CMSL Holdings acquires Ashhurst Engineering and Construction

  • Firm news

    05 March 2023

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CMSL Holdings has acquired 100% of the shares in Ashhurst Engineering and Construction, as it continues to build its portfolio of specialised engineering and industrial services businesses. 

This acquisition is CMSL Holdings’ fourth in the engineering and construction sector recently.

Leading New Zealand law firm, MinterEllisonRuddWatts has acted for CMSL Holdings (backed by long-standing client of the firm, NZ Equity Partners) on numerous acquisitions in the industry including the acquisition of a majority stake in Contract Mechanical Services, the acquisition of Bay Sandblasting and the acquisition of Structural Coatings Services. 

Partner Neil Millar says: “It’s been a busy 12 months for CMSL Holdings as the team pushes forward in their plans to build a premium engineering and construction business portfolio. We are delighted to have assisted CMSL once again, achieving a successful outcome.

“New Zealand’s industrial services industry is attracting significant attention from investors, locally and overseas. It is a sector to watch with interest.”

MinterEllisonRuddWatts’ core transaction team, led by Partner Neil Millar, included Partner Kate Lane, Senior Associate Jasmin Matthews, and solicitors Rory Bryce, Tom Kennedy and Stella Gu. The team was supported by partners June Hardacre, Amanda Spratt, Andrew Ryan, Bianca Tree and Chris Young, Senior Associate Zoe Barnes, Senior Solicitor Sandy Lam, and solicitors Dilshen Dahanayake, Rosa Laugesen, Ronnie Duan, Amy Dresser, Brayden Print, Conor Masila, Tamara Payne and Ursula Monney.

The team advised on all aspects of the transaction, including due diligence, drafting and negotiation of the share sale and purchase agreement and related transaction documents, and assisting CMSL Holdings with financing documentation.