G+T has advised Quadrant Private Equity (Quadrant) on the acquisition of ASX-listed outdoor media company, QMS Media Limited (QMS), by way of a scheme of arrangement.
QMS is a leading digital outdoor and sports media company, with a strategic focus on quality digital assets and quality audiences, underpinned by the latest developments in technology and data.
Quadrant, through a special purpose vehicle acquired 100% of the share capital of QMS following the implementation of the scheme of arrangement on 21 February 2020. As part of the transaction, certain QMS shareholders were offered the opportunity to hold scrip alongside Quadrant.
The transaction, which values QMS at an enterprise value of approximately $711 million, was extremely well supported by QMS shareholders at the company’s scheme vote held in early February.
G+T’s market-leading Corporate Advisory and Banking + Infrastructure teams advised on all aspects of the transaction including structuring, regulatory, due diligence and financing.
On the scheme of arrangement, the G+T team was led by Corporate Advisory Partners Peter Cook and Rachael Bassil with support from lawyers Olivia Blakiston, Matt Green and Rohan Barmanray and on the debt financing, led by Banking + Infrastructure Partner John Schembri with support from lawyers Chris Roberts and Marion Russell.
Rachael Bassil said “It was a pleasure to have assisted our long-time client Quadrant with this transaction, being Quadrant’s first direct public-to-private and largest acquisition to date. We are excited to watch QMS’ growth and development under Quadrant’s ownership.”
G+T’s Corporate Advisory team, which boasts some of Australia’s leading M&A and Private Equity lawyers, has advised on many of Australia’s largest and most innovative transactions, including recently advising TPG Capital on its $1 billion acquisition of ASX-listed pets and vets company, Greencross Limited, by way of a scheme of arrangement, Konekt on its acquisition by Advanced Personnel Management, DuluxGroup on its $3.8 billion acquisition by Nippon Paint and KKR on its $2 billion acquisition of MYOB.