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Hamilton Locke is delighted to have acted for Partners for Growth (PFG), a Silicon Valley-based venture debt and growth finance fund, on its senior secured loan facility to Asia Pacific-based e-commerce business, Limitless Technology, to fund the acquisition of the Australian-based gift and flower delivery start-up, LVLY.
Limitless Technology is a vertically integrated e-commerce group with a track record of launching, acquiring, and scaling profitable flower and gifting, confectionery and fashion e-brands across Asia Pacific by leveraging its venture building and scaling expertise. The acquisition of LVLY was key to the company’s inorganic growth strategy to acquire businesses complementing its existing portfolio of market-leading e-commerce brands.
Commenting on the transaction, Hamilton Locke partner, Lauren Cloete, said: “We are delighted to have acted for PFG on another successful cross border transaction which saw PFG bring their Australia and Asia Pacific practices together to deliver a global to solution to Limitless. We are excited to see Limitless Technology extending its footprint into Australia and excited to see what the company will achieve having the benefit from LVLY’s synergy in its consumer brands portfolio”.
The Hamilton Locke team was led by partner Lauren Cloete and lawyer Calvin Mai, with partner Guy Sanderson, partner James Delesclefs and Lawyer Eunice Yao advising on the corporate elements of the transaction.