Smartrak Holdings Limited (Smartrak) is one of Australasia’s leading software providers of fleet management and safety location-based solutions, with operations in Australia and New Zealand. Its holding company is based in New Zealand. The Volaris Group is a wholly owned division of Constellation Software Inc. (“Constellation”) (TSX: CSU). Volaris - headquartered in Canada - acquires, strengthens and grows vertical market technology companies around the world.
In Smartrak’s official announcement on the transaction, CEO Troy O’Connor commented: “This is a new chapter for Smartrak…With Volaris we have access to a network of people in like-minded industries, access to capital and best practices.”
ABL Partner Michael Dodge added: “We congratulate Smartrak on achieving this important milestone. It is a testament to the hard work of Troy and his team that an Australian business with a New Zealand parent is acquired by a company that is listed on the Toronto Stock Exchange. It is another example of the quality of Australian innovation being recognised on the international stage. We were pleased to assist Smartrak with this important corporate transaction.”
Following the sale, Smartrak will retain its brand and independence, with Troy O’Connor continuing to lead the business along with the current management team.
Arnold Bloch Leibler worked as Australian counsel for New Zealand based law firm Buddle Findlay on the transaction.
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About Arnold Bloch Leibler
Arnold Bloch Leibler is a premier Australian commercial law firm that provides strategic legal and commercial advice nationally from its offices in Melbourne and Sydney to a diverse range of leading Australian corporations, high-net-worth individuals and large family businesses as well as international corporations. Arnold Bloch Leibler also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.
Arnold Bloch Leibler is particularly known for its expertise in banking & finance, commercial & corporate, competition, litigation & dispute resolution, insolvency, property, taxation and workplace advisory. In these areas, the firm is regularly involved in landmark matters and transactions.