HopgoodGanim Lawyers advises Halcyon on $620m sale of business
HopgoodGanim Lawyers is pleased to have advised the owners of Queensland-based Halcyon on the successful completion of the sale of their business to Stockland (ASX: SGP) for $620 million.
HopgoodGanim’s role included undertaking a full vendor legal due diligence, assisting with the management of the bid process, negotiating the transaction documents and implementing completion.
Luke Mountford said, “HopgoodGanim Lawyers is proud to have advised the owners of Halcyon for many years and it has been a pleasure working with the entire Halcyon team throughout the course of this significant transaction.
“We congratulate all involved on successful completion of the deal and look forward to watching the Halcyon brand continue to grow and prosper into the future.”
Halcyon Joint Managing Director Paul Melville thanked all involved in the transaction.
“We were fortunate to have had a long association with HopgoodGanim, which meant that we were able to work on this transaction with advisors who had an intimate knowledge of our business and the industry in which it operates.
“The collaborative approach adopted by HopgoodGanim allowed us to draw the strengths of each of the members of the team – from Luke’s commercial acumen to Anthony’s expertise as one of the recognised experts in manufactured home park law in Queensland.
“It was a very large and complicated transaction, which HopgoodGanim managed for us in a very commercial, efficient and cost-effective way,” Paul Melville said.
Halcyon is Australia’s most awarded creator of lifestyle communities and has enjoyed 17 years of steady, consistent growth with more than 1500 homes across South East Queensland.
Under the terms of the agreement, Stockland will acquire 3,800 sites across 13 Halcyon communities, including six established, four in development and three in planning.