In September 2021, Gordon Brothers arranged and underwrote a customised financing package for Australian private equity firm Allegro Funds to support its acquisition and turnaround of Toll Global Express in Australia and New Zealand.
Toll Global Express, a division of Toll Group, is a diversified transportation and logistics company with an expansive network. The company provides express parcel, freight delivery and domestic forwarding services in Australia and transport and contract logistics services in New Zealand.
Our firm led this ground-breaking deal and arranged the tailor-made, asset-based lending financing package that included A$150 million for the Australian division and a NZ$10 million bilateral facility for the New Zealand division, with the latter being a new market for our firm.
Multiple teams collaborated to execute this transformative deal and conduct an independent valuation of more than 11,000 assets. Having supported Allegro Funds previously, our knowledge, expertise and flexibility was recognised for this challenging turnaround, and we were trusted in our capacity as both valuer and lender.
Additionally, we are engaged as the collateral monitoring agent and asset remarketing agent for both the Australian and New Zealand entities for the term of the facilities.