Dentons advises Carbar on its acquisition of HelloCars in subscription market consolidation

Australia-Dentons has assisted car subscription business Carbar Holdings (Carbar) on its latest acquisition of HelloCars Subscription from Loopit, marking a significant consolidation in Australia's car subscription market.

The acquisition enables Carbar to expand its customer base, enhance operational efficiencies, and deliver greater flexibility to Australians seeking alternatives to traditional car ownership. By integrating HelloCars' technology and expertise, Carbar aims to accelerate innovation and improve the overall subscription experience.

Dentons acted as legal counsel to Carbar on all aspects of the acquisition, including due diligence, negotiation with the vendors, and completion. The firm also supported Carbar on its acquisition finance and overall refinancing, Dentons was also able to assist with the review and negotiation of Carbar's software and subscription services arrangement with Loopit which is an integral part of the transaction.

Lead Corporate Partner Kurt Tiam advised on the acquisition, with support from Solicitor Eleanor Whelan-Mills. Senior Finance Counsel Jason Morris led the acquisition finance and refinancing, while Technology, Media, and Telecommunications Partner Michael Park and Senior Associate Antonia Hudson oversaw the software review and subscription services terms. Their combined expertise ensured a smooth transaction, navigating complex price adjustment mechanisms and parallel workstreams to deliver a favourable outcome for Carbar.

This deal follows Carbar's acquisition of Carly earlier this year for $3.8 million, in which Dentons also advised. The strategic move positions Carbar as a leading car subscription platform in Australia, offering a diversified portfolio to meet varying customer needs.

Carbar CEO Des Hang commented, "This acquisition is a major milestone for Carbar. By bringing HelloCars into the fold, we're consolidating expertise and resources to deliver even more value to our customers."

Lead Partner, Kurt Tiam said, "We are delighted to have supported Carbar in this transformative acquisition with its many moving parts thanks to our bench strength and expertise in the relevant practice areas. This deal underscores the growing demand for subscription-based mobility solutions and positions Carbar at the forefront of this evolving market."

Dentons continues to advise clients on innovative transactions across all sectors including the automotive and technology sectors, reflecting its commitment to supporting businesses navigating disruptive market trends.

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