Lander & Rogers' corporate transactions team has advised the founders and shareholders of Australian solar technology company Smart Energy in its sale to Japan-headquartered multinational appliance manufacturer, Rinnai.
Smart Energy supplies and installs rooftop solar panels and battery energy storage systems for residential use. Founded in Byron Bay in 2016, the company now has more than 300 employees across Australia and is one of Australia's fastest-growing providers of residential renewable energy solutions.
Under the terms of the deal, the Australian subsidiary of Rinnai (Rinnai Australia) acquired a majority stake in the Smart Energy Group. The acquisition will allow both Rinnai and Smart Energy to diversify their offerings and expand their presence in Australia's flourishing renewables market, as rising power prices and environmental awareness spur consumer uptake of solar-powered and energy-efficient solutions.
Lander & Rogers corporate partner David Tink, who led the legal aspects of the deal together with senior associate Douglas Brown and lawyers Annabelle Gray and James French, congratulated Smart Energy's three shareholders ─ co-founders Elliot Hayes and Beau Savage, and business partner Jasper Boyschau ─ and said the future was bright for the solar systems provider as it pursued its next stage of growth. "It was a pleasure to work with all of the other advisers on this transaction and in particular the Smart Energy team in supporting Elliot, Beau and Jasper's ambitious expansion plans through this partnership with Rinnai Australia," Mr Tink said.
Mr Tink noted Lander & Rogers' experience in working with founders across the deal lifecycle, from pre-sale preparation through to negotiations with buyers and navigating complex contractual arrangements to safeguard the interests of multiple stakeholders. "We've been the go-to legal advisors for a number of founder/sellers over the last several years, and always relish the opportunity to get to the heart of their business, understand their goals, and help set them up for sustained success," said Mr Tink. "For a deal lawyer, that's an incredibly rewarding thing to be a part of. We wish everyone involved in this deal all the best for the future."
In other recent representations on the sell side, Lander & Rogers advised call-centre tracking and analytics technology provider Delacon on its sale to global software buyer Volaris, and enterprise content management and digital transformation solutions company enChoice on the sale of two of its businesses to fintech Paymerang.
