MinterEllison has advised United States-based Protective Industrial Products, Inc. (PIP), which is backed by private equity fund Odyssey, on its acquisition of Australia's largest independent workwear brand, Bisley Workwear.

Bisley is widely recognised for its innovative workwear designs and ethical and sustainable sourcing. The acquisition furthers PIP's ultimate mission to develop and market PPE that exceeds industry standards – while placing sustainability and ethical sourcing at the forefront of its activities.

MinterEllison assisted on all Australian aspects of the transaction. This included Australian and cross border due diligence, ACCC matters, financing, receipt of foreign investment approval and the negotiation and drafting of complex transaction documents. MinterEllison worked closely with Latham & Watkins for PIP on the US aspects of the transaction.

"We really enjoyed working closely with the great team at PIP and Odyssey through this most recent acquisition. The structure used was innovative and provides a strong foundation for PIP going forward in Australia," said lead partner Shaun McRobert.

"More broadly, we are seeing a large increase in investments in Australia from the US, driven in part by demand from US capital market opportunities," he added.

MinterEllison previously advised Paramount Safety Products, Australia's largest industrial safety equipment supplier, on its acquisition by PIP in June 2021.

Chris Page of Page Advisory acted as the corporate advisor for PIP.