Gilbert + Tobin has advised investment group Liverpool Partners on the structuring of its share bid together with Adamantem Capital to acquire Zenitas Healthcare (Zenitas).
The $1.46 share offer values Zenitas at about $100 million with investors signalling they are prepared to provide Zenitas with significant additional funds for future acquisitions in the competitive market of allied health and home care services.
G+T’s market-leading private equity team assisted Liverpool Partners in creating a made-to-measure legal framework to meet the legal, tax, regulatory and commercial requirements of the transaction and enable the consortium to bid for its first public-to-private investment.
Corporate Partner Adam Laura, who led the G+T team, says the transaction will strengthen Liverpool Partners’ already fast-paced growth strategy, and demonstrates G+T’s expertise in simplifying the complex legal framework involved with multiple-party transactions.
“As Liverpool Partners continues to build on its asset management platform with a global investor base, this deal will further bolster the company’s impressive track record in the health services sector, together with its presence in the private equity mid-market more generally,” said Laura.
Corporate Advisory lawyers James Wood, Mack Wan and Sarah Kensell supported the G+T team, along with consultant Maarten De Schepper.
Gilbert + Tobin’s market-leading Corporate Advisory team has advised on many of Australia’s largest and most innovative private equity transactions, including advising Harbour Energy on its proposed US$13.5 billion acquisition of Santos, CHAMP Private Equity on the $1 billion sale of Accolade Wines, Quadrant Private Equity on the $1 billion sale of the Real Pet Food Company and Bain Capital on its acquisition of Craigcare and Ardmillan.