Gilbert + Tobin advised Pacific Group Bidco Pty Ltd, an entity owned by funds advised by Pacific Equity Partners (PEP) on the financing aspects of its acquisition of 100% of the shares in Citadel Group Limited by way of a scheme of arrangement.

Pacific Equity Partners secured support for its $449 million acquisition of Citadel Group Limited (Citadel) by receiving backing for the approach from the company’s Board back in September 2020. The scheme was approved by the Federal Court on 7 December 2020 and was implemented on 17 December 2020.

Citadel is an ASX-listed software and technology company that specialises in secure enterprise information management across health, national security, defence and corporate enterprises. The company specialises in providing core software for medical specialists and secure records management software, technology and professional services to a diversified set of Government clients in Australia and the UK. It has recently made a push into healthcare software.

Gilbert + Tobin is a leading legal advisor to private equity firms in Australia and has worked with PEP across a number of corporate and financing deals.

The G+T team was led by Banking + Infrastructure partner John Schembri, supported by partner Spiro Papadolias, lawyer Corrie Eames and graduate Logan O’Brien.

John Schembri and Spiro Papadolias said, “We are proud to have been involved in such a significant public to private transaction for our longstanding and highly valued client, Pacific Equity Partners. The acquisition of Citadel will complement their portfolio of investments and we look forward to Citadel’s continued growth in this market under PEP ownership.”

Gilbert + Tobin’s Banking + Infrastructure team is recognised in the leading legal directories, including most recently being ranked at Band 1 for Banking and Finance – Acquisition Finance by Chambers Asia-Pacific 2020. In the IFLR1000 Specialists Guide 2019, G+T are recognised for work in Unitranche financings, the only Australian firm to be recognised. G+T has significant experience advising leading Australian and international financial institutions, investment banks, corporations and private equity funds. We act for lenders, borrowers, sponsors and consortia on a range of issues from high-value corporate transactions to complex restructuring projects.