McGrathNicol Advisory supports Allegro Funds to acquire Toll Global Express

McGrathNicol Advisory supported Allegro Funds in both Australia and New Zealand to acquire the Toll Global Express business – the express parcel, freight delivery, domestic forwarding and Bass Straight shipping arm of Toll Group – one of Australia’s largest transportation and logistics companies.

Allegro entered into the agreement to purchase Toll Global Express, committing to a transformation program underpinned by $500 million in funding to support and grow the business. With plans to improve efficiency and service through investment in technology, Toll Global Express’ people and its assets can deliver strong growth in the future, playing a crucial role in Australia’s and New Zealand’s post COVID-19 e-commerce led economy.

The McGrathNicol Advisory team led by partners Shaun Fraser, Rhyan Stephens, Rob Smith and Conor McElhinney supported by directors Ben Ryan, Andrew Wharton and Adam Blogg provided Allegro with operational and commercial due diligence, restructuring and deal structuring advice and support in planning the separation and transformation post acquisition.

Allegro’s Adrian Loader has been appointed as Chair of the new company to acquire the Toll Global Express business. Mr Loader said “we are excited by the opportunity ahead and have great confidence that Toll Global Express can realise its full potential. Of the McGrathNicol team Mr Loader said “the input from Shaun and the McGrathNicol team was high quality and really made a difference. In Rhyan Stephens, McGrathNicol has true supply chain and logistics industry expertise that added great insight to our deal team”.

Shaun Fraser said “It was fantastic to support Allegro with this acquisition, which positions them to take what is already a market leading operation, to another level.”

The transaction is targeted for completion on 30 June 2021.

McGrathNicol’s Advisory and Restructuring experts combine in special situations to provide a unique insight into challenging and complex transactions. McGrathNicol’s solutions-focused team works to identify and assess risk and provide support to clients that better enables an informed assessment of risk mitigation, earnings and cash flow improvement opportunities, and actions that increase enterprise value. Our industry specialists are a genuine differentiator. Rhyan Stephens is an experienced senior supply chain and logistics industry executive with board and “C” suite experience over 20 years. Rhyan leads McGrathNicol’s supply chain industry team and has played a key role in the Toll Global Express transaction for Allegro.

Other advisors to Allegro on the transaction included Herbert Smith Freehills, KPMG, Macquarie Capital, Skye Capital, and Minter Ellison Rudd Watts (NZ). Toll Group was advised by Ashurst, Deloitte, Nomura, JP Morgan and Bell Gully (NZ).