Property valuer snaps up smaller company

Hall & Wilcox has acted for LandMark White in its acquisition of private valuer Taylor Byrne.

Grace Ormsby • 05 November 2018 • SME Law

Firm: Hall & Wilcox (LandMark White), Taylor Byrne (Clarke Kann)

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Deal: Hall & Wilcox has acted for LandMark White in its acquisition of the private valuer Taylor Byrne.

Value: $5.15 million cash plus 8.58 million shares

Area: M&A

Key players: Hall & Wilcox partner Jacqui Barrett worked with special counsel Jonathon Wood and lawyer Paul Simos.

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Deal significance: LandMark White is an ASX-listed property valuer, while Taylor Byrne is a private NSW and Queensland valuer.

For the deal, LandMark White paid Taylor Byrne’s shareholders $5.15 million in cash as well as with 8.58 million company shares at a deemed issue price of 60 cents each.

According to a statement from Hall & Wilcox, “the acquisition further cements LandMark White’s position as the largest ASX-listed property valuation services business in Australia”.

The sentiment was echoed by Ms Barrett, who said the transaction represented a significant investment for LandMark White.

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