Ashurst advised on Hillhouse’s strategic investment in Australia’s largest solar distributor OSW

Global law firm Ashurst advised One Stop Warehouse Pty Ltd (OSW), represented by its Sydney team, and its major shareholder GCL System Integration Tech Pte Ltd (GCL), represented by its Beijing team, in relation to GCL’s partial share sale in OSW and OSW’s share issuance to Hillhouse Capital Group. 

OSW is Australia’s largest distributor of PV panels, inverters, mountings, electrical components, battery storage systems and ancillary equipment. GCL is a subsidiary of an international energy conglomerate specialising in clean and sustainable energy, which provides comprehensive solar solutions.

Hillhouse, as one of the largest and most influential Asia private equity funds, has reserved substantial financial resources to pair up with GCL and support OSW’s mid-term growth with a series of European acquisitions in the pipeline.

This is the second successful deal Hillhouse and GCL group companies have executed in the renewable energy sector in the past 12 months. The capital raising will support the expansion of OSW and the company is also fast-tracked towards a major stock exchange listing.

The Ashurst team was led by partners Dan Yang and Murray Wheater, with the support from various teams including corporate transactions, energy, property, employment, IP and banking and finance across the Beijing and Sydney offices.

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