Cashpoint partnered with FC Capital, Stargroup's biggest creditor, to purchase the assets from receivers, KordaMentha, and roll assets into Cashpoint's existing ATM, Cash Management and Payments Technology business.

Stargroup provides end-to-end ATM deployment and electronic payment system services and solutions.

MinterEllison advised on all aspects of the transaction including negotiating and structuring the deal in a tax effective way so as to allow Cashpoint to combine its business with the Stargroup assets and bring in FC Capital as co-owner.

The transaction involved a complex and bespoke corporate restructuring in order to meet all parties' objectives, including paying down part of Stargroup's debt.

"This is a company-transforming transaction for Cashpoint as it works towards expanding and developing its payment technology business," said MinterEllison partner Ron Forster. "We look forward to continuing to support Cashpoint as they go from strength to strength."

"The matter was very complex… it required the refinancing of existing debt arrangements, a corporate restructure and entry into incorporated joint venture arrangements, as well as a back-to-back receivership share and asset sale," said Mr Forster.

"Our team worked very closely with Cashpoint to manage multiple counterparties with different commercial interests and timetables, all the while ensuring a tax efficient structure."

The new, expanded Cashpoint business is now of greater scale and will be able to further expand and develop its financial services offering.

The MinterEllison team was led by partner Ron Forster, and senior associate Michael Scarf, and supported by Darren Symons and Rosie Connolly.