Herbert Smith Freehills Kramer advises FleetPartners on proposed acquisition by SG Fleet for $1.31 billion

Herbert Smith Freehills Kramer is advising FleetPartners Group Limited (FleetPartners) on its proposed acquisition by SG Fleet Management Pty Limited (SG Fleet) by way of a scheme of arrangement for approximately $1.31 billion, following a highly competitive process involving strategic bidders.

FleetPartners provides fleet management, vehicle leasing, and salary packaging services to corporate, government, and not-for-profit customers across Australia and New Zealand.

Owned and controlled by funds managed and advised by Pacific Equity Partners, SG Fleet provides integrated mobility solutions, including fleet management, vehicle leasing, and salary packaging services, across Australia, New Zealand, and the United Kingdom.

The HSF Kramer team was led by partner Philippa Stone, with support from partners Hayley Neilson and Patrick Gay, and senior associates David Tilley and Selena Tang and solicitor Sara Komatsu.

Philippa said, “We are proud to be working with FleetPartners on this significant transaction. We look forward to continuing to support FleetPartners and its impressive team as we move towards implementation.”

The Scheme is expected to be implemented in March 2027, subject to shareholder and regulatory approvals.

This transaction is another example of HSF Kramer’s market-leading work in Australian M&A. Other recent examples include advising:

• Reliance Worldwide Corporation on its proposed acquisition by Brookfield
• GIC on the acquisition in consortium with Brookfield of National Storage REIT
• One Investment Management on the acquisition in consortium including with CC Capital of Insignia Financial
• Apiam Animal Health on its acquisition by Adamantem Capital
• BlueScope Steel on its response to the unsolicited offer from SGH Limited and Steel Dynamics to acquire BlueScope Steel
• Shandong Sinocera Functional Material Co. on its acquisition of SDI Limited
• Aura Consolidated Group on its acquisition of Qoria Limited and ASX listing
• EQT on its acquisition of Orikan
• Ampol on its $1.165 billion acquisition of EG Australia
• Axight on the acquisition of Estia Health as part of a Stonepeak-led consortium
• MAAS Group Holdings on sale of its Construction Materials division