Kajima Corporation, through its Australian subsidiary Kajima Australia, has acquired a majority stake in construction group Cockram Construction in Australia.
Cockram is a privately owned multidisciplinary construction services company that commenced in Melbourne Australia in 1861. It operates in Australia, New Zealand, the United States, Hong Kong, Mainland China, Malaysia, India and Thailand.
Founded in 1840, the Tokyo-based Kajima is one of Japan’s big-five builders, with annual revenue of A$21 billion and operating in 50 countries. It entered the Australian construction market in 2015 with a strategic investment in Icon Construction Group, an Australian residential and commercial builder.
Kajima’s investment in Cockram will ultimately lead to a merger between Cockram’s Australian business and Icon. The merger will combine Icon’s extensive residential and commercial construction expertise with Cockram’s specialist social infrastructure business to create a compelling full spectrum construction services offering in Australia. The merged entity is expected to generate annual revenue of A$2 billion.
MinterEllison advised Kajima on the deal with a team led by M&A partner Matthew Hibbins (picture), supported by teams in Hong Kong (partner Barbara Mok), mainland China (partner Yi Yi Wu), and New Zealand (partner Mark Forman).
Akerman LLP (USA), AZB & Partners (India), Sedgley & Co (Malaysia) and Chandler MHM Ltd (Thailand) also advised on the deal.
Law Firms: Minter Ellison;
Clients: Kajima Corporation;