Herbert Smith Freehills Kramer advises Kinetic on acquisition of Dysons

Herbert Smith Freehills Kramer (HSF Kramer) has advised Australian bus operator Kinetic on its acquisition of the Dysons business.

Kinetic is the largest bus operator in Australia and New Zealand, with operations that span across the UK, Europe and Singapore. It is a leading operator of zero-emission transport and infrastructure in its major markets, operating more than 300 electric buses and 11 electric depots across Australasia, and 1,500 electric buses in the UK through its majority-owned subsidiary, Go Ahead Group. 

Operating across Victoria and New South Wales, Dysons is a family-owned company with a fleet of over 625 buses and coaches across 12 depots and more than 1,200 staff. From July 2025, Dysons began operating under the Victorian Government’s Metropolitan Zero Emissions Bus Franchise, through which it will introduce 168 new electric buses and upgrade one of its depots with advanced charging infrastructure. 

The acquisition will support the expansion of Kinetic’s zero emissions network across Australia, deploying more than 430 electric buses and electrifying 19 depots since 2020. 

The HSF Kramer team was led by partner Andrew Clyne, with support from senior associate Marijana Banovac and solicitors Vanessa Filipendin and James Ward. 

Partner Sarah Benbow led on the competition aspects, with support from executive counsel Nicola Jackson. 

Partners Natalie Gaspar, Jinny Chaimungkalanont and senior associates Joel McDonald, Jasmine Gharib and Jordan Hardinge assisted with specialist advice. 

Andrew Clyne said, “It was a pleasure to work with the team at Kinetic again on this important acquisition, and to support Kinetic on its ongoing growth journey.”

The acquisition follows HSF Kramer’s work advising Kinetic and its management team on the sale of a 70 percent stake in the business to US alternative asset management firm TPG in November 2025.

TPG’s stake was acquired through its TPG Rise Climate platform, led by its TPG Rise Climate Transition Infrastructure strategy. TPG Rise Climate is one of the world’s largest private markets climate investing platforms and brings to Kinetic deep expertise in electrification and green mobility.