Clarendon Lawyers is delighted to have advised LCL Pty Ltd (LCL), on the sale of its business to ASX listed Reliance Worldwide Corporation Limited (RWC). With origins in Melbourne, Australia RWC now operates worldwide with a market capitalisation of approximately $4 billion.
LCL is a multi-generational family business established in 1983 as a privately owned manufacturing and recycling business and is now one of Australia’s largest producers of high quality copper-based alloys. LCL processes both new and recycled non-ferrous materials to produce a range of brass copper alloys from two locations within the greater Melbourne area.
The Moorabbin facility produces brass alloys through the processing of scrap metals, melting and casting of scrap into brass rods, and finishing processes. The Dandenong South facility recycles insulated copper wire.
LCL’s rigorous production process control involves the sourcing of high‐grade materials, continuous
casting, machining, and heat treatment in order to deliver a high grade finished product. The efficiency of the production process has been underpinned by investment in plant and machinery and continued research and development.
LCL is the principal supplier of brass to RWC in Australia and also recycles excess brass arising from RWC’s product manufacturing activities.
The Clarendons team was led by Managing Director, Tony Symons and Director, Andrew Chan who were assisted by Senior Associate, Sarah Noble and Lawyer, Laura Chesney.
Tony congratulated the LCL team on the sale stating we regularly help “private business owners to navigate their sale processes and we were proud to support the LCL team through their exit process and ultimate sale to RWC after many years of safe, but innovative, family stewardship.”
Andrew also congratulated the LCL team on the sale, stating “We were delighted to assist LCL’s owners in the sale of their business and it is fantastic to see the commitment to continued investment in manufacturing and employment in Australia by RWC.”
LCL was also advised by Grant Thornton and Kennedy King in relation to the sale. Herbert Smith Freehills acted as legal advisors for RWC.