Clarendon Lawyers is pleased to have advised one of the founding shareholders of the Donric Group, the Baird family, on its buyout of all other shareholders of the Donric Group as part of a group restructure.
The Donric Group, a group of bus and coach companies based in Victoria and Queensland, was established in 1980 when the founders originally purchased eight school buses. Since then, the company group has grown to a fleet of over 400 buses and provides public transport services on bus routes across regional Victoria and Queensland.
The restructure was effected by way of a share and unit sale, which completed on 25 September. The Clarendons team was led by Managing Director, Tony Symons, and Senior Associate, David Bryant, who were assisted by Graduate, Jordy Finch.
Tony Symons congratulated the Baird family on the successful restructure of the business: “We have deep experience in the bus and transport sector, which we were delighted to leverage for the Baird family in this transaction. The Donric Group’s business has been built on a foundation of hard work over many years, and we look forward to seeing the continued success of the group in the years ahead.”
The Donric Group was advised by Pitcher Partners. Ashurst acted as legal adviser to the shareholders of the Donric Group.