Clifford Chance

Clifford Chance advises Pemba Capital Partners on the sale of secure ID card business to ASSA ABLOY

Sydney: Leading international law firm Clifford Chance has advised Australian private equity firm Pemba Capital Partners (Pemba) on the sale of secure ID and transaction cards company Placard to Swedish corporate ASSA ABLOY.

Pemba invested in Placard in 2012 and helped it grow to become Australia's largest manufacturer of secure cards. Under Pemba's ownership, Placard expanded its operations in New Zealand and pivoted the business towards South East Asia for the next phase of its growth strategy.

ASSA ABLOY Group has more than 48,000 employees globally and operates in efficient door openings, trusted identities and entrance automation – the group is considered the global leader in access solutions.

Partner Mark Currell led a cross practice (Corporate and Private Equity) deal team for the transaction, with support from counsel Jacob Kahwaji, senior associate Marcus Berghouse and associates Madeleine Burrill and Isabelle Cameron.

Mark offers, "We have worked closely with the Pemba team over a number of months to bring this deal to fruition, and it is pleasing to see the realisation of their investment in Placard. Identity and data protection sit top of mind for businesses across the globe, and we expect to see continued interest in this space with strategic investments in new and evolving technologies across Asia Pacific."

Jacob adds, "We congratulate Pemba on the completion of the Placard sale process. Financial sponsors are a core focus of our domestic and regional practice, and the Clifford Chance team is delighted to be involved in yet another successful private equity exit."