Global law firm Ashurst has advised Allegro Funds (Allegro) and Questas Group (Questas) on the sale of 100% of the issued share capital in Questas to private equity and venture capital firm, Five V Capital.
Allegro is one of Australia’s most-awarded firms in the private equity investing space. Questas is Australia's largest independent hydraulics company providing industrial services in the hydraulics and flow control industries. Allegro acquired a majority stake in Questas in 2019. Questas has more than tripled in size and grown revenue through an organic growth strategy since Allegro acquired its interest in 2019.
Partner Anton Harris said:
"Having assisted Allegro with acquiring its controlling interest in Questas in 2019, we are delighted to have acted on the successful exit of this business through its sale to Five V."
The Ashurst team was led by partner Anton Harris, who was assisted by: senior associate Sharon Liu and associates Adelaide Holm and Sarah Columbus (Corporate Transactions); partner Tony Hill and counsel Rachel Daniel (Projects & Energy Transition); partner Shawn Wytenburg and associates Cameron Jordan and Calvin Fong (Global Loans); partner Rebecca Cope and associate Dominic Christie (Digital Economy Transactions); partner Jennie Mansfield and senior associate Mohamad Ardati (Employment); and partner Anita Cade and associates Leah Alysandratos and Isaac Song (IP/Media).
