• Grant Thornton advises on the successful sale of AudioXtra to AUTOBACS SEVEN

Grant Thornton is pleased to congratulate the shareholders of AudioXtra Pty Ltd (AudioXtra), a leading specialist mobile and car electronics manufacturer, wholesaler and distributor, on their sale to the Japanese listed automotive wholesaler and retailer, AUTOBACS SEVEN Co. Ltd. (AB7).

Grant Thornton assisted AudioXtra in the search for a potential buyer, facilitation of diligence and transition of ownership as part of the client’s succession plan – all of which has resulted in a great result for all parties. The transaction highlighted Grant Thornton’s ability to leverage our international networks to assist our clients, with the introduction of AB7 made through our Japan Desk.

“We continue to see increased opportunities to assist owners on their succession journey. If you are contemplating your succession planning over the break, please reach out to one of our transaction specialists around the country. Sound early advice can make a significant difference to your final outcome, with good planning and execution key to realising superior value” said Paul Gooley, Partner and National Head of Corporate Finance.

We are pleased to have worked with Allion Partners as legal advisors to AudioXtra and the team at AB7 and their legal advisors from Clayton Utz. We look forward to following the success of AudioXtra as it leverages the backing of its listed majority shareholder to expand its operations and product range throughout the Australian market and wish AB7 and the ongoing management team great success in the future.

For more information, please see the AB7 Press Release (29 October 2018):  www.autobacs.co.jp/news