Kain Lawyers has advised SeaLink Travel Group Limited (ASX:SLK) on the acquisition of Fraser Island’s Kingfisher Bay Resort Group in a $43 million deal.
The transaction, centred on the World Heritage listed Fraser Island, includes the two island resorts, Kingfisher Bay Resort and Eurong Beach Resort, as well as Fraser Explorer Tours and the Fraser Island Ferry business.
“We are delighted to announce our acquisition of Kingfisher Bay Resort Group” said SeaLink Travel Group CEO, Jeff Ellison.
“Fraser Island is one of the most iconic destinations in Australia and is famous throughout the world for its World Heritage listed wonders. Kingfisher Bay Resort Group is by far the major hospitality, touring and transport operation on Fraser Island, and we are delighted to be taking ownership of this leading tourism business to drive future protection, promotion and growth of the Island.
Kain Lawyers worked closely with us to deliver this transaction on a demanding timeframe. Having worked together with Kain Lawyers on several significant transactions, we know that they will identify the issues that are important to us and drive the transaction to meet our commercial objectives. We’re very happy.”
The Kain Lawyers team was led by James Burchnall (Director, Corporate and M&A) with assistance from Associate Director Brian Vuong and Lawyers Freya Sinickas and Shaun Scott, working closely with SeaLink General Counsel Paul Blewett.
“We are thrilled to be involved in another acquisition for SeaLink, as they continue their growth trajectory as one of Australia’s leading tourism and transport businesses. This transaction has a strong alignment with SeaLink’s existing operations and enhances SeaLink’s position as a major provider of connections to Australian tourism icons” said Kain Lawyers Director James Burchnall.
The announcement of SeaLink’s $43 million acquisition kicks off what looks to be a very busy 2018 for Kain Lawyers, following on from their Australasian Top 5 listing in Thomson Reuters for M&A deals for calendar year 2017.
Kain Lawyers Managing Director, John Kain commented:
“2018 is shaping up to be a bigger year than 2017 in the M&A market for us. We’re excited to continue to provide opportunities to our clients and team as we continue to grow and work on these major transactions.”
Kain Lawyers will be hosting the ASX Listed Companies Breakfast on March 7 at the Adelaide Convention Centre. We currently have approximately 700 registrations for the event which will focus on the Health and Medical Industry, with presenting companies; Alcidion, Bionomics, Ellex and RHS. To find out more contact Dayna Roberts
About Kain Lawyers
Kain Lawyers is an innovative legal consulting company specialising in complex transactions, disputes and advice. We create opportunities for clients by delivering agreed outcomes, on time and on budget – without disrupting their business. Kain Lawyers is listed in the Top 5 M&A firms in Australasia by Thomson Reuters.