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CRG acquires Clark Rubber
Maddocks has advised on the sale of well-known pool retailer Clark Rubber.
Tony Zhang
Firm: Maddocks (Clark Rubber).
Value: Undisclosed.
Area: M&A.
Key players: The Maddocks team on the matter was partner Greg Hipwell and senior associate Elizabeth Lilley with assistance from Scott Mannix, Katie McClelland, Shelley Einfeld and Anne Clement.
Deal significance: In the deal, a group comprising three investors, operating as CRG Operations Pty Ltd, acquired the Clark Rubber and Luxafoam Group.
Clark Rubber owner since 2000 and founder of the franchise business, Chris Malcolm, will stay on as a business consultant for the next 12 months. Chief executive Anthony Grice and the current management team will continue to lead the business going forward, and the existing staff will remain unchanged.
Mr Hipwell said the deal drew on the firm’s long-time experience and expertise in the franchise sector and key acquisitions and divestments for founders and family-run companies.
“Chris and the Clark Rubber brand have been synonymous with success and best practice within the franchise sector for almost 30 years,” Mr Hipwell said.
“We were delighted to assist Chris to realise his long term investment and at the same time transition the business to an experienced purchaser group with the skills and long-term vision to sustain and grow the retail network.”
Clark Rubber has roots going back to 1946 and now has 60 stores nationally specialising in pools, foam and rubber products. Mr Malcolm turned the company into a franchise business in the 1990s which led Clark Rubber to grow quickly across Australia.
