Media Release: Clayton Utz advises MotorCycle Holdings Limited on $60 million Mojo Group acquisition
Clayton Utz has advised ASX-listed MotorCycle Holdings Limited (MTO) on its acquisition of Mojo Group.
The transaction was announced to the market on 23 September, with an anticipated completion date of 31 October.
Corporate partner Stephanie Daveson led our deal team, which included senior associate Lisa Tolhurst and lawyer Kai Priestly.
Founded in 1989, MTO is Australia’s largest motorcycle dealership and accessories group, with 41 retail locations in Queensland, New South Wales, Victoria and the Australian Capital Territory. Mojo Group – comprising Mojo Motorcycles Pty Ltd and Mojo Electric Vehicles Pty Ltd – is a motorcycle, scooter, ATV, and genuine spare parts and accessories importer and distributor, with operations in Australia and New Zealand.
Under the terms of the deal, MTO will acquire Mojo Group for a consideration of $60 million, comprising 11.539 million MTO shares, $20 million in cash, and deferred consideration of up to $10 million.
Stephanie said she felt privileged to have been called on to assist MTO in realising its strategic growth ambitions.
This was a great transaction on which to be involved and we warmly congratulate Dave (Ahmet, MTO co-founder and managing director), Bob (Donovan, CFO), Nicole (Spink, Company Secretary) and all their team.
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