M&A Partners advises Safetech on the sale of a majority equity stake to Singaporean based Industrial Conglomerate, Jebsen & Jessen Group
Tuesday, 12th March 2024
M&A Partners advises Safetech on the sale of a majority equity stake to Singaporean based Industrial Conglomerate, Jebsen & Jessen Group
Diversified industrial conglomerate Jebsen & Jessen Group and Safetech, Australia’s premier dock products and lifting solutions company, have announced the signing of a strategic partnership that will see Jebsen & Jessen acquire a majority stake in Safetech.
Safetech is Australia’s leading designer and manufacturer of dock products, freight hoists, scissor lifts, pallet loading and handling equipment, and vehicle lifts.
Safetech is a family owned business that has been recognised for innovation and expertise in dock products and lifting solutions. More than 80% of Australia’s supermarkets utilise Safetech’s logistical equipment and its products provide critical support to Australian manufacturers, warehouses, miners, and commercial builders.
Jebsen & Jessen Group forms part of a global family enterprise that dates back to a trading partnership formed in Hong Kong in 1895. Beyond the region, they are closely connected to a network of sister companies in Australia, Europe and Greater China. Jebsen & Jessen will provide access to Safetech’s Australian-designed and manufactured products across key markets, including Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Lindsay Wakefield, Co-Founder and Managing Director of Safetech, will retain an equity stake in the $50m Revenue business as a minority shareholder and continue to serve in the business. The new partnership will provide Safetech with skills and resources that will ensure continued growth and investment in Australian design and manufacturing.
Safetech were advised by Antony Lynch and Andrew Balfe at M&A Partners. Legal advisor to Safetech was David Hallam from David Hallam & Associates.
Commenting on the transaction, Antony Lynch said “Based in Moe, Victoria, Safetech is an Australian success story in the manufacturing sector, that has designed, innovative, high quality materials handling equipment for Australia’s leading companies for over 40 years. We are delighted to have advised the Directors on the successful outcome of a sale to Jebsen & Jessop, a leading Asia Pacific industrial business.”
Wakefield added “Selling Safetech has been difficult. A bit like watching your children leave home. But we know it is the right decision for staff, customers, and shareholders. J and J are committed to a long term presence in Australia and we are the perfect vehicle to help them achieve that. Its my hope that our partnership continues to provide great jobs and wonderful products into the next generation.”
For further information please contact Antony Lynch (0419 919 722) or Andrew Balfe (0415 791 177), M&A Partners. Email abalfe@mapartners.com.au
M&A Partners is a boutique, corporate advisory firm specialising in providing strategic sell side and capital raising advice to mid tier Australian private family owned businesses and ASX listed companies. M&A Partners is the manager of Avoca Funds Management, that provides capital for investment in high growth Australian companies.