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BDOTRANSACTION SERVICES
BDOTRANSACTION SERVICES
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INDIA
IRELAND
UFP Industries acquires controlling equity position in Ficus Pax Pvt Ltd
Through an interfirm arrangement BDO USA appointed the BDO Transaction Services team in India to provide financial and tax due diligence and transaction structuring support to UFP Industries in connection with the acquisition of Ficus Pax Private Limited, a leading producer of industrial packaging in India. UFP Global Holdings Ltd., acquired 70 percent of the equity in Ficus Pax Private Limited (Ficus Pax), for approximately USD13.5 million. Headquartered in Bangalore, India, Ficus Pax manufactures mixed-material cases and crates, nail-less plywood boxes, wooden pallets and other packaging products through 10 facilities located in major industrial markets throughout southern India. Ficus Pax also owns a majority stake in Wadpack, a manufacturer of corrugated fibre board containers, corrugated pallets and display solutions. The company had trailing 12-month sales through August 2021 of approximately USD39 million and 600 plus employes. The investment and support that UFP will provide to Ficus Pax and Wadpack will allow them to expand their sales outreach, increase their capacity, automate in ways that will improve their productivity, and gain more flexibility in sourcing materials.
The BDO Transaction Services team in Ireland provided vendor due diligence services to assist John Laing Group plc on their divestment of its 35.6MW Irish wind farm, Glencarbry, to Greencoat Renewables plc on 1 April 2021 for a reported consideration of EUR31.2 million. John Laing is a leading international investor and manager of PPP projects and mid-market infrastructure businesses across a range of sectors. The Group originally acquired GlencarbryWindfarm in 2015 and actively managed the project through the final stages of construction, bringing it into operation in 2017. This divestment supported the Group’s strategy to reduce its exposure to Renewable Energy generation assets. Greencoat Renewables is an owner and operator of renewable energy infrastructure assets in Europe. This investment by Greencoat Renewables supported their strategy to expand their wind farm portfolio across Europe.
Sale of GlencarbryWindfarm to Greencoat Renewables plc
BDO contact for this transaction AKHILESH PANDEY Partner akhileshpandey@bdo.in
BDO contact for this transaction RORY O’KEEFFE Partner rokeeffe@bdo.ie ANTHONY O'BOYLE Director aoboyle@bdo.ie
INTERNATIONAL SNAPSHOTS 2022
INTERNATIONAL SNAPSHOTS 2022
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