Gilbert + Tobin has advised longstanding client Orica (ASX:ORI) on its acquisition of Axis Mining Technology and equity raising.
Axis Mining Technology is a leader in the design, development and manufacture of specialised geospatial tools and instruments for the mining industry.
The transaction included the acquisition of 100% of the share capital in the entities that own Axis Mining Technology for upfront cash consideration of $260 million and a deferred earn-out payment up to a maximum of $90 million, as well as an equity raising comprised of a fully underwritten $650 million institutional share placement and share purchase plan capped at $75 million.
G+T acted a lead counsel and worked closely with Orica’s M&A and legal teams.
The G+T team was led by co-head of M&A/Corporate Advisory Neil Pathak and M&A/Corporate Advisory partner Ben Macdonald, with support from lawyers Stephanie Rowan, Andrew Earle, Eugene Teo, Matthew Scrocca, Ali Al Ebrahimi, Joyce Hossack and Maxwell Collins.
The M&A/Corporate Advisory team was supported by specialists throughout the firm including G+T’s Intellectual Property team led by partner Anna Smyth, Competition + Regulation team led by partner Andrew Low, Real Estate Team led by partner Amanda Hempel, Technology + Digital team led by partner Mike Caplan and Employment team led by special counsel James Pomeroy.
The G+T team also worked closely with leading law firms in Canada, Chile, South Africa and the UK.
Neil Pathak and Ben Macdonald commented, “We are delighted to have advised long term client Orica on this highly strategically acquisition which further bolsters Orica’s Digital Solutions Platform. We look forward to continuing to work with Orica”.