Andrew Pine selected read – Global firm snaps up another Australasian office-supplies chain

Andrew Pine – Selected Reads

Platinum Equity has acquired the OfficeMax Australia and New Zealand from Office Depot.

The US headquartered private equity outfit is consolidating businesses in the Australasian office-supplies space, an industry worth $10bn annually in Australia alone.

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It announced it is acquiring Staples Australia and New Zealand last month from US parent Staples Inc. in a negotiation the global law firm also advised Platinum Equity on.

Subject to regulatory approval in both country, the deal is expected to close within the coming months. Financial details of Platinum Equity’s acquisitions of Staples and of OfficeMax in Australasia were not disclosed.

Platinum Equity, a global private equity firm that specialises in business operations, is investing its global buyout fund, Fund IV, which raised NZD$9.24 bn in capital in mid-March. Baker McKenzie has a long track record with Platinum Equity’s buyouts in Australia, as it has acted for the private equity firm in its majority stake acquisition in Sensis from Telstra in 2014.

Baker McKenzie also recently advised Chow Tai Fook on its $4bn purchase of Alinta, Afterpay on its $600mn merger with Touchcorp, Billabong on its $60mn sale of Tiger Lilly to Crescent Capital Partners, and Aurrum and the Home Investment Consortium on their $800mn acquisition of the Masters Hardware business from a Woolworths-Lowes joint venture.


 

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Andrew Pine Solicitor

Andrew Pine is a Queensland solicitor practising in property law.

Andrew has significant experience acting for property developers and commercial landlords in Brisbane and the Gold Coast. Before being admitted in Queensland, he worked in a national law firm’s property department as a property development paralegal. As a solicitor, Andrew has acted for numerous high-end residential and mixed use developments.

Outside of work life, Andrew is a landlord of residential rental properties. He is also a member of property development and investment organisations. Andrew undertakes flat land subdivisions in the Gold Coast and Logan, with a view of progressing towards strata title developments in future. He would also like to assist in housing persons with incomes so low they qualify for assistance under the National Rental Affordability Scheme.

Andrew is passionate about educating others, so is committed to publishing a series of online blogs aimed at assisting first home buyers in understanding the process involved when purchasing a property in Queensland.

Andrew has played representative cricket at the level immediately below First Class cricket. He has also coached junior cricketers who have progressed on to play cricket at international level. Andrew has played for the Brisbane club – Valleys Cricket District Cricket Club.

For any property development queries, Andrew can be contacted on 045 ANDREW 0 (045 263739 0).

 

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