Rockwell Bates lead counsel on $61m deal

07 October, 2011 The New Lawyer

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A boutique Australian firm has confirmed it worked on the sale of IT services company UXC Limited's Field Solutions Group to Cashel House for $61 million.
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A boutique Australian firm has confirmed it worked on the sale of IT services company UXC Limited's Field Solutions Group to Cashel House for $61 million.
The purchasing entity was Utility Services Group, represented by Rockwell Bates legal team. Managing principal Adam Levine led the legal team, assisted by the law firm's newly
appointed principal Brett Burns, senior associates Diana Pelosi and Georgina Parisis and associate Michelle Anglin.
UXC Limited is one of the largest Australian owned ICT consultancy firms and utility asset management firms. Its Field Solutions Group division provides outsourced
infrastructure and end-to-end services to utilties and Governments.
The financing of the deal was structured as a senior lender and mezzanine lender intercreditor arrangement. The size, volume of contractors and cross border issues involved
made this a landmark deal in the utilities services arena, the law firm said.
Baker and McKenzies James Halliday and Jennifer Wu acted for UXC Limited, Middletons Adam Howell and Sarah Howarth acted for the senior lender and Mallesons Stephen
Jaques Will Stawell and Audrey Wang and for the mezzanine lender.
Rockwell Bates' Levine said the transaction was a challenging one to work on. It involved the divestment of one of Australias largest utility asset management firms.
"Coordinating dozens of material contracts and employees on a national basis as well as two levels of finance meant coordination between several legal, banking/financing and
taxation teams to structure the transaction in the most cost effective manner. The successful completion of this transaction and the thriving nature of the FSG business is seen as
a win for all involved," he said.

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