Thomson Geer is advising multidisciplinary engineering group, Primero Group Limited, which specialises in the design, construction and operation of resource projects, on a recommended takeover offer by NRW Holdings Limited.
NRW is a leading provider of contract services to the resources and infrastructure sectors in Australia. The takeover offer will see NRW acquire all of the fully paid ordinary shares on issue in Primero.
NRW’s offer values Primero at approximately $100m. Under the offer Primero shareholders will receive $0.275 cash plus 0.106 NRW shares for every Primero share.
Primero Managing Director, Cameron Henry said, “NRW’s Offer provides an attractive outcome to Primero shareholders, allowing shareholders to both crystallise value today at a meaningful premium to recent market trading levels whilst also maintaining continuing exposure through their holding in NRW, one of Australia’s leading and diversified provider of contract services to the resources and infrastructure sectors in Australia”.
Thomson Geer partner Marc Wilshaw said, “It has been a pleasure working with Primero and its management team from IPO to this transformational transaction”.
The Thomson Geer team is being led by Partners Marc Wilshaw and Hedley Roost with support from Senior Associate Jonathan Foo.