Sydney, 17 May 2021: Clayton Utz is acting for SAI Global (a portfolio company of Baring Private Equity Asia) on its entry into an agreement for the sale of SAI Global's Standards and Assurance Services business to UK-listed Intertek Group plc, for a cash consideration of A$855 million. The transaction was announced to the London Stock Exchange on 13 May 2021.
Corporate partner and National Practice Group Leader Rory Moriarty is leading the firm's team, core members of which include special counsel Sidney Tang, lawyer Kimberley Grellinger, and IP & Technology partner Walid Sukari and senior associate Akmal Chunara.
Rory said the team was pleased to work with SAI Global on its latest strategic divestment, having advised earlier this year on the A$91 million sale of its Property Division to cloud-based software and technology solutions provider, Dye & Durham.
SAI Global Standards and Assurance is a leading global full-service provider of audit and product certification services and the aggregation and distribution of technical and regulatory standards. The Assurance division delivers compliance audits and certification, product certification, education and training services to businesses, with more than 60,000 customers in around 130 countries. The Standards division provides over 1.5 million standards from more than 350 publishers to businesses.
SAI Global Standards and Assurance is part of the SAI Global Group owned by the private equity firm, Baring Private Equity Asia.
Intertek Group plc is a Total Quality Assurance provider to a range of industries worldwide. Its acquisition of SAI Global Standards and Assurance will expand its service capabilities and grow its presence in markets including Australia, the USA, Canada, China and the UK.