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IDOM sells Australian operations for $150m
Japanese automotive retailer IDOM has sold its Australian operations, in a deal worth approximately $150 million.
Lauren Croft
Firm: Squire Patton Boggs (IDOM Inc)
Value: $150 million
Area: M&A
Key players: The deal was led by corporate partner Chris Rosario (pictured), senior associate Blair Strickland and associate Marcus Edwards, with assistance from the firm’s labour and employment and property practices. The buyer consortium was advised by Macpherson Kelley.
Deal significance: Founded in 1994, Japanese automotive retailer IDOM has a network of more than 550 used-vehicle stores operating under the Gulliver brand and also operates new car dealerships and overseas businesses.
Commenting on the current transaction, Mr Rosario said: “It is always a pleasure to work on a management buy-out as there is no greater endorsement of an organisation than when its employees and partners invest in its future. We wish all involved great success going forward.”
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
