TEN Group (The Energy Network), a leading Queensland electricity equipment supplier, has taken on a majority investment from Fortitude Investment Partners to support the next stage of TEN Group’s business growth journey.
TEN Group is a 25-year-old second-generation family business that supplies tools, equipment and line materials to energy transmission and distribution markets in Australia and New Zealand, a market expected to boom as the existing network ages and new transmission is built to address the shift of the network to renewable power.
BDO, led by Partners David Ward and David McVeigh, is proud to have advised TEN Group on the investment by Fortitude Investment Partners. BDO provided M&A lead advisory and vendor due diligence services, working closely with TEN Group’s existing lawyers, HopgoodGanim, throughout the process to its successful completion. The value of this transaction remains confidential.
“The completion of this transaction with Fortitude Investment Partners represents a great outcome for the TEN Group and paves the way for a strong future of growth ahead. We found the BDO team’s approach throughout the process to be pragmatic and the assistance provided invaluable. The BDO and HopgoodGanim teams worked collaboratively with us, supporting us through the many milestones of this transaction”.
Corey Scott, Managing Director, TEN Group