Oaktree / Vivax MetrotechWA-20026

Parties

Summary

Oaktree Capital Holdings, indirectly controlled by Brookfield Corporation, via Vector JV Bidco, acquired 100% of shares in surveying instrument manufacturer Vivax Metrotech. Vendor AMI Holding GmbH gained a 40% indirect equity stake, with Oaktree holding 60%.

Acquisition details

Oaktree Capital Holdings, LLC (together with its subsidiaries, Oaktree ), acting through Vector JV Bidco, a special purpose vehicle it controls, proposes to: acquire 100% of the shares issued in each of VXMT Corporation, Vivax (Asia) Ltd, Metrotech Vertriebs GmbH, Vivax Metrotech Sdn. Bhd., Vivax-Metrotech Ltd. and Vivax-Metrotech SAS (together, Vivax ); grant AMI Holding GmbH, the vendor, a 40% indirect equity participation in Vector JV Bidco through the vendor’s investment in Vector JV Topco, Inc. (the Acquisition ); As a result of the Acquisition, Oaktree will own a 60% stake in Vivax. Oaktree is indirectly jointly controlled by Oaktree Capital Group Holdings GP, LLC and Brookfield Corporation (together with its subsidiaries - other than the Oaktree group – Brookfield Group ). Oaktree is a global investment manager specialising in alternative investments. Oaktree pursues an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, high yield bonds, convertible securities, senior loans, corporate control, real estate, emerging market equities and mezzanine finance. Headquartered in Los Angeles, Oaktree has over 1,200 employees and offices in over 22 cities worldwide. Oaktree has investments in a range of companies in Australia including IT businesses and health and wellness food manufacturing, among others. Brookfield Group is a global investment firm that deploys pools of discretionary capital for investors across its core businesses, including its asset management business and its operating businesses focused on renewable power and transition, infrastructure, private equity, and real estate. Brookfield Group is a public company and its Class A Limited Voting Shares are co-listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol “BN”. Brookfield Group has investments in Australia across a range of sectors, including infrastructure and energy. Brookfield Group is in the process of acquiring the remaining interest in Oaktree. Vivax is a global surveying instrument manufacturer. Its products are used for locating and mapping buried utilities and inspecting the interior of pipes and ducts. In Australia, Vivax predominantly supplies precision pipes and cable locating equipment and related accessories through an independent third-party distributor. Vivax also provide full calibration of their pipe and cable locaters in Australia. AMI Holding GmbH is the current Germany-based holding company for Vivax.