Nippon Sanso agrees to acquire Coregas from Wesfarmers for A$770m

Deal typeTransaction Services
IndustryNatural resources & Energy
Client nameNippon Sanso Holdings Corporation

Nippon Sanso Holdings Corporation (NSHD, TYO:4091), the parent company of Supagas Pty Limited (Supagas), has agreed to terms to purchase the Wesfarmers-owned (ASX:WES) Coregas Australia and New Zealand business. The acquisition includes the Coregas branch network throughout Australia and New Zealand as well as its welding consumables businesses, Migomag, Blacksmiths Jacks and Toowoomba Welding Supplies.

Supagas is a leading national supplier of LPG, industrial, medical, specialty and helium gases in Australia.

With over 50 years of experience in the gases industry, Coregas was established in Australia in 1974 and manufactures and distributes compressed gases and cryogenic liquids for almost all industries. These industries range from heavy industry, and manufacturing to healthcare and specialty users such as laboratories.

NSHD and Supagas engaged our deal advisory and corporate and international tax teams to support on the transaction and provide:

  • Financial due diligence and SPA review (financial/accounting perspective), led by deal advisory Partner, Daniel Coote
  • Commercial due diligence, led by deal advisory Partners, Kapil Kumar and Martin Linhart
  • Tax due diligence and SPA review (tax perspective), led by tax Partners, Pulin Desai and Fady Abi Abdallah.