Maas Group Holdings Limited has acquired several quarries in Eastern Victoria as part of a $70 million deal with Casacir Pty Ltd.
Law firm Hall & Wilcox advised Casacir on the sale of its company shares and sites, including hard rock quarries.
“It was a pleasure to assist Casacir’s shareholders on this sale, and to work with parties and advisers who all strove to achieve a successful transaction outcome for both sides,” Hall & Wilcox partner James Morvell said in a statement.
“The cross-practice Hall & Wilcox team worked seamlessly to ensure that the corporate, real estate and financing aspects of the interdependent transactions all ran smoothly and in accordance with the deal timetable.”
Hall & Wilcox advised on, prepared, and negotiated the share sale and purchase agreement, property contracts of sale, and security/mortgage documents before attending the completion/settlement of the transactions.
A cross-practice team worked on the matter, led by Morvell and special counsel James Bull, and including partner Natalie Bannister, special counsels Audrey Leahy and Jeanette Lui, lawyers Meher Kyani and Georgia Macri and paralegal Ross Burnett.
It continues a trend of Maas Group expanding its position in the Australian aggregates and construction materials sector. Last year, Maas acquired Austek Asphalt, while the group acquired Victorian Dandy Premix in 2022.
Austek was Maas’ first entry into the asphalt market, with a foothold in the Brisbane and Gold Coast markets and regional Queensland.
“As a downstream user of quarry products, this acquisition represents a significant expansion of our construction materials capability,” said Wes Maas, Maas Group managing director and chief executive.
Dandy’s hard rock quarry at Yarra Valley and sand quarry at Grantville both supply Dandy’s concrete plants and other customers. Under a new permit, the production capacity at Grantville will increase and gain access to significant long-term reserves, according to Maas’ statement.
“Dandy’s strong market position and trusted brand provide the ideal springboard for continued and sustained growth in the Victorian market,” Maas said in a statement.
“Despite unprecedented rainfall and other external influences impacting the construction materials segment over the last quarter, this acquisition should give our investors confidence in MGH’s long-term outlook and sustained strategic growth pattern.”
