Duncan Cotterill has assisted leading New Zealand online tradie marketplace Builderscrack with the sale of its business to ASX-listed hipages Group for AUD$11.8million.
hipages Group’s (ASX:HPG) 100% acquisition of Builderscrack will make it the trans-Tasman market leader for online trade services, offering a total addressable market worth of AUD$24billion/NZ$26 billion.
Founded in 2007 by Jeremy Wyn-Harris, Mark Dickson and Keith Roberts, Builderscrack connects tradies with residential and commercial consumers and has to date connected over 43,000 tradies to over 545,000 jobs.
On completion of the deal, Builderscrack will retain its brand and leadership team. From over 95,000 jobs posted on the platform in FY21, the company facilitated approximately NZ$67 million of job value.
Duncan Cotterill Corporate and M&A Partner Mark Cathro led the transaction advising long standing client Builderscrack. He was supported by a core corporate team including Senior Associate Peter Fernando, and Solicitors Jess Hope, Danielle Reddecliffe and Nick Meates. The wider team involved in the trade mark aspects of the transaction included Katy Stove and Georgia Wallace.
The importance of Duncan Cotterill’s Terralex membership was evident with Australian law firm Lander & Rogers providing critical time sensitive cross-border assistance.