HopgoodGanim Lawyers is proud to have advised the shareholders of MIPAC Holdings Pty Ltd on the sale of the shares in MIPAC to GR Engineering Services Limited for $21.4 million.
MIPAC is a leading global provider of control systems engineering, automation and technology services.
The transaction diversifies GR Engineering’s offering into the delivery of standalone process control design, control systems technology supply and automation solutions.
MIPAC is forecasting FY21 revenue of approximately $25 million, with similar revenue anticipated for FY22. MIPAC’s current management team will continue in their roles post-completion.
The HopgoodGanim team was led by Tim Scanlan and included Justin Raiteri and Phoebe Kenafake.
"The transaction was finalised quickly and represents a great opportunity for the shareholders in MIPAC to continue to develop the business as part of the GR Engineering group," Tim Scanlan commented.