Rawson Homes acquired in Daiwa House's expansion into Australia's house building sector

Rawson Homes acquired in Daiwa House's expansion into Australia's house building sector
Rawson Homes acquired in Daiwa House's expansion into Australia's house building sector

Tokyo-listed Daiwa House has expanded into Australia's house building sector with the acquisition of Rawson Homes, which is ranked the fifth-biggest home builder in NSW.

Daiwa House will collaborate with the Rawson Group to further expand the Rawson Group's businesses in Australia, the company said in a statement.

Limited terms of the deal were announced by Baker McKenzie.

Baker McKenzie acted for the Tokyo based Daiwa House Industry Co., Ltd in the cross-border acquisition of the Rawson Group in Australia

Transaction documents were signed on 28 November 2017.

The Daiwa House is Japan's largest homebuilding company, is listed on both the Tokyo Stock Exchange and has approximately 40,000 employees globally.

The Rawson Group is a residential housing construction and land development business located in Sydney, Australia.

Baker McKenzie Head of Corporate Markets in Australia, Ben McLaughlin noted the Rawson Group was a 40 year old private corporation focused on land development and the construction of single-family homes in Sydney.

"The acquisition marks the Tokyo-based, Daiwa House Industry Co, Ltd's accelerated expansion through acquiring overseas businesses which are expected to see medium to long term growth," he said.

The transaction was led in Tokyo by Partner Mr Tetsuo Tsujimoto and his colleague Mr Tsubasa Kubota, and in Sydney by Mr Lawrence Mendes and Ms Emily Hunter who are members of Ben McLaughlin's team.

Rawson, Australia's 20th-largest home builder with 1188 housing starts in the year to June, according to the HIA-Colorbond Steel Housing 100 report, made net sales of $544 million and a net profit of $35 million, Daiwa House said.

It will take possession of the shares – owned by brothers Mark, Peter and Lawrence Rawson – next January, subject to the Foreign Investment Review Board.

Tags: 
Home Building Rawson Group

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