The Growth Fund takes controlling stake in AFS Logistics

It is with great pleasure that Clarendons Lawyers announces that it advised the founders of AFS Logistics on the sale of a strategic interest in its business to private equity firm The Growth Fund on 6 July 2021. 

AFS Logistics was founded in 1995 and has since become one of Australia’s premier third and fourth party logistics management solutions specialists. AFS Logistics’ cutting edge technology, which provides data driven insights, allows AFS Logistics to optimise carrier management and carrier selection, while also operating across each point in a supply chain to provide enhanced control for customers by connecting, tracking and reporting movements of freight 

The Growth Fund is a leading Australian private equity group with portfolio companies across industry sectors, including Quantum Radiology, Best Friends Pets, Royans and M&J Chickens. The sale of a controlling interest in AFS Logistics, whilst maintaining significant shareholdings for founder Tony Bates and CEO Paul Hopgood, will enable the business to continue to grow through a combination of their logistics experience and commercial stewardship of The Growth Fund.

The Clarendon Lawyers team was led by Managing Director, Tony Symons and Director Andrew Chan who were assisted by Associate, Zara Treacy and Lawyer, Nik Sachdev.

Tony Symons congratulated the shareholders of AFS Logistics, noting that “we were delighted to advise Tony and Paul on the transaction and look forward to watching AFS’s progress in The Growth Fund’s stable. It has been a privilege to play a part in the next step of AFS Logistics’ journey. We have extensive experience in advising founders on deals involving private equity and continue to see a significant number of deals involving investment by PE firms into founder led businesses.” 

Andrew commented that “This is a terrific result for Tony and Paul in obtaining an investment to accelerate the growth of the AFS Logistics Business after having the courage to disrupt the Australian logistics industry twenty five years ago through continuing to invest in technology and data driven insights. We regularly help founders to navigate their sale processes and we were proud to support Tony and Paul in this process.  We look forward to watching AFS Logistics continue to grow and prosper under The Growth Funds’ custodianship. 

The Growth Fund was advised by Herbert Smith Freehills.