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Smoke detector company sold
A cross-border team has advised on the sale of Xtralis, an early-warning smoke detection and alarm systems company.
Lara Bullock
Firms: Herbert Smith Freehills (Pacific Equity Partners and Xtralis Group Holdings Ltd)
Value: $683 million
Area: Corporate and finance
Key players: The Herbert Smith Freehills finance team was led by Sydney partner Hayley Neilson, while the cross-office corporate team was led by Sydney partner Damien Hazard and London partners Nicholas Moore and Tomasz Wozniak.
Deal significance: Dublin-based Xtralis Group Holdings Ltd is majority owned by funds advised by Pacific Equity Partners (PEP) and Blum Capital Partners.
PEP is the largest private equity fund in Australia and New Zealand, managing more than $6 billion in equity funds, according to a release from Herbert Smith Freehills.
US-based Honeywell International Inc bought early-warning smoke detection and alarm systems company Xtralis from Xtralis Group Holdings Ltd for $683 million.
Herbert Smith Freehills partner Damien Hazard (pictured) said the firm was able to offer a seamless, round-the-clock service while working on the deal.
“This transaction highlights the depth and quality of our global offering and our ability to work together as one firm to assist clients wherever they operate throughout the world.”
