G+T has advised ASX-listed Matrix Composites & Engineering Ltd (Matrix) on its entry into a Scheme Implementation Deed with Advanced Innergy Holdings for its proposed acquisition of Matrix by way of a scheme of arrangement.
Matrix is a leading Australian engineering and advanced materials business serving the energy, resources and defence sectors. The proposed acquisition of 100% of Matrix by way of a scheme of arrangement, gives Matrix shareholders cash certainty and marks a pivotal step in the company’s next phase, as the business moves into private ownership to support future growth.
Under the terms of the transaction, Matrix shareholders will receive $.0.40 cash per share, with the Matrix board unanimously recommending that shareholders vote in favour of the Scheme, subject to customary conditions.
G+T advised Matrix throughout the transaction, working alongside Azure Capital as financial adviser.
Partner Simon Rear led the G+T team, working closely with the Perth-based Corporate Advisory team including Ryan Gava, Adam Sibum, Rachael Griffiths-Szeto and Sophia Spadanuda, with support from the firm’s competition and tax specialists.
Simon Rear said:
This deal gives Matrix shareholders certainty and positions the business for its next chapter. It also reflects the continued demand for high-quality industrial platforms with strong technical capability and strategic relevance. We are pleased to have supported Matrix through a strategic process to reach this agreement.
