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In a deal stretching across the US, England, Ireland and Australia, Herbert Smith Freehills has advised Xtralis Group Holdings Ltd (XGHL), which is majority owned by funds advised by Pacific Equity Partners (PEP) and Blum Capital Partners (Blum Capital), on their A$683 million (US$480 million) sale to Honeywell International Inc (Honeywell).

Leading corporate and finance lawyers from the firm’s Sydney, London and Hong Kong offices were involved in the complex cross-border transaction which saw US-based Honeywell International Inc purchase Dublin-based Xtralis from PEP and Blum Capital.

Xtralis is a leader in early warning smoke detection and alarm systems which protect business critical assets across the world and has been owned by XGHL for 10 years. PEP is the largest private equity fund in Australia and New Zealand, managing more than A$6 billion in equity funds.

Herbert Smith Freehills has advised PEP and XGHL throughout their ownership of Xtralis, with the relationship beginning with Xtralis’ acquisition in early 2006.

Herbert Smith Freehills’ cross-office corporate team was led by partners Damien Hazard (Sydney), Nicholas Moore and Tomasz Wozniak (London), supported by Chris Gill, Tom Hoare, Kimberley Wong, Laura Stuckey and James Frecknall. The Finance team was led by Sydney partner Hayley Neilson, supported by Kelvin Choy and Truman Biro.

Damien Hazard said the firm was able to offer a seamless, round-the-clock service while working on the deal.

“This transaction highlights the depth and quality of our global offering and our ability to work together as one firm to assist clients wherever they operate throughout the world.”

Hayley Neilson said the firm was delighted to have worked with Xtralis and its shareholders over the past 10 years.

“Over this period we have been privileged to advise on numerous re-financings and bolt-on acquisitions. It has been extremely rewarding to assist PEP, Blum Capital and Xtralis on this market-leading transaction that has resulted in a successful sale to Honeywell.”

Key contacts

Damien Hazard photo

Damien Hazard

Partner, Sydney

Damien Hazard