PKF Australia

Accountants and Business Advisers

Towers Transport - Divestments
Towers Transport
Lead Adviser

Towers Transport – Sale of the Business

We assisted in the sale of the business to a large national freight company, Followmont Transport.

We acted as lead adviser and participated in the initial feasibility and valuation models, compilation of detailed information memorandum and structuring, heads of agreement proposal and negotiation, detailed commercial due diligence management and support, contract negotiation, purchase price allocation, completion statement calculations, assistance with transferring over the business and records.

There was complexity in terms of the information that could be extracted out of the business during the detailed due diligence process, combined with their internal management accountant leaving just before the due diligence process commencing. We were also involved in the negotiation process between both parties to achieve our client’s desired selling price.

The transaction successfully completed in January 2018 and the business has been successfully integrated into the Followmont Transport Group.

“We found that partnering with PKF enabled us to get timely and accurate reporting. The team has always been readily available to take our questions and provide advice to help us face our challenges.”
Barry Towers
General Manager

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