Piper Alderman has advised WARP Traffic Management (WARP) on the successful sale of its traffic management businesses in WA and QLD to Altus Traffic (Altus), which is the largest provider of traffic management services in Australia and New Zealand. The sale was completed on 30 September 2024.
Altus recently published its intention to fully integrate WA into its traffic business over the next few months, stating that it has committed additional capital to expanding the operating fleet in WARP’s markets following the commencement of recent contracts, and indicating its intention to further contribute to growth in employment with its recruitment systems.
Piper Alderman advised WARP on all aspects of the transaction and worked closely with WARP’s tax and financial advisers, Carbon Group.
WARP’s Managing Director, Steve O’Dwyer said:
“I am of course pleased that we were able to do this transaction with the Altus Group. I’ve seen personally how that business has grown and developed over the last decade and have a strong affection for many of their people. They will be a great fit for our teams and customers and give us the capital needed for continued growth.”
The sale transaction was complex, given the number of group companies and businesses across WA and QLD that form part of the WARP traffic management business. This involved Piper Alderman advising and implementing certain pre-completion restructure steps.
The Piper Alderman deal team was led by Partners Paul Sartori and Andrew Rankin along with Mareli Treurnicht, Senior Associate.
Further information can be found in the media announcement here.
Related media coverage:
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WARP Traffic Management, guided by Piper Alderman, acquired by Altus Traffic – Australasian Lawyer, 4 October 2024
