Adam is a partner in Gilbert + Tobin’s Corporate Advisory group.
Adam specialises in acting on equity capital markets transactions and advising on Australian securities law issues. He has extensive experience advising both issuers and brokers on initial public offerings and secondary raisings in Australia and also regularly acts on public regulated merger and acquisitions transactions.
Adam’s practice also extends to acting on private M&A transactions, advising on the ASX listing rules, executive remuneration, corporate governance, shareholder activism, shareholder matters and general corporate law issues.
Adam’s clients, who include listed companies, all major investment banks operating in Australia and private equity firms, value his strong technical knowledge and innovative and practical approach.
Adam is a Chambers Global and Chambers Asia-Pacific ranked lawyer in the Capital Markets: Equity category, and won Capital Markets Partner of the Year at the 2020 Lawyers Weekly Partner of the Year Awards. Best Lawyers 2021 recognises Adam in the Corporate Law, Equity Capital Markets Law, Mergers & Acquisitions Law and Private Equity Law categories.
Adam is a member of the Law Council of Australia’s Business Law Committee.
Prior to joining Gilbert + Tobin in 2010, Adam was a member of the mergers and acquisitions group of another major Australian law firm and was the associate to Justice Richard Conti of the Federal Court of Australia.
Adam was admitted as a solicitor in New South Wales in 2006 and has a Bachelor of Laws (awarded the University Medal) and Bachelor of Commerce (Finance) from the University of New South Wales.
Highlights of Adam's ECM experience includes advising:
- The issuers on the IPO and ASX-listings of Cashrewards, MoneyMe, PropertyGuru (a CDI offering), Convenience Retail REIT, the Australian Unity Office Property Fund, Nine Entertainment Co., Mantra Group Limited, and Spotless Group Limited on their initial public offerings and ASX listings, as well as a number of other companies on their proposed IPOs, including Tamboran Resources, Velocity Frequent Flyer, Moly-Cop, Zeema Therapeutics, Performcom, Metro Property Group, Hoyts Group and Vibrynt, Inc (a proposed CDI IPO).
- Yancoal Australia Ltd, an ASX listed company, on the first ever dual primary listing on the Hong Kong Stock Exchange and associated initial public offering (which also involved the use of an Australian rights issue).
- The major shareholders on the IPO and ASX-listings of Global Traffic Network, Veda and Collins Foods and Briscoe Group Limited, an NZX listed company, on its dual listing on the ASX.
- The joint lead managers/ underwriters on a significant number of IPOs and ASX-listings, including Daily Needs REIT, MyDeal.com.au, Home Consortium, Investec Australia Property Fund, Vintage Energy, Netwealth, New Energy Solar, Inghams, MYOB, Healthscope and the Costa Group.
- The issuers on various rights issues and other secondary raisings, including those undertaken by United Malt Group Limited and Elixinol Global Limited (to augment their balance sheets in light of anticipated impact on their businesses from COVID-19), Pacific Smiles on its non-underwritten dividend reinvestment plan, Sonic Healthcare Limited (to fund its acquisition of US-based Aurora Diagnostics), Beach Energy (to fund its acquisition of Lattice Energy from Origin), Nearmap and Credit Corp.
- The underwriters on the rights issues and other secondary capital raisings, including by Ramsay Health Care Limited, Cochlear, Newcrest Mining Limited, The Star Entertainment Group, Vicinity Centres, Huon Aquaculture Limited, Qube Holdings Limited, Invocare, Somnomed, Lynas Corporation, City Chic Collective Limited, Audinate Group Limited, Home Consortium, Mincor Resources NL, Shopping Centres of Australasia Group, Kogan.com Limited, Nickel Mines Limited, Dicker Data, ELMO Software Limited, Kathmandu, EML Limited, Citadel Group, Abacus Property Group, Carnarvon Petroleum, Primary Health Care (now Healius), Yancoal (to fund its acquisition of Coal & Allied from Rio Tinto) and APA Group.
Adam has also advised on a number of “block trade” sales (including advising the major shareholder of GTN Limited on its staged sell down via block trades as well as on the $4.7 billion selldown by Caltex’s former largest shareholder, Chevron and various private equity sponsors on their block trade sales), on capital management transactions, such as off-market buybacks (including Caltex on its $270 million off-market buy-back by way of a tender offer) as well as on securities law enforcement matters and equity derivative transactions (both in connection with securities offerings and in pre-bid stake acquisition scenarios on hostile M&A transactions).
Adam’s M&A transactional experience includes advising:
- ASX-listed companies undertaking material disposals, including Primary Health Care on its $155 million sale of MedicalDirector to Affinity Equity Partners and the establishment of MedicalDirector’s long-term contractual arrangements with Primary’s retained businesses in relation a new SaaS clinical management product and Ardent Leisure on the sale of the d’Albora Marinas business.
- On takeover defences, including by the Responsible Entity of Generation Healthcare REIT on NorthWest Healthcare’s $500 million unsolicited takeover bid and Charter Hall Office REIT on its $1.2 billion takeover by way of trust scheme of arrangement.
- The bidders on public M&A transactions, including Web.com and Siris Capital on its acquisition of Dreamscape Networks Limited by way of scheme of arrangement, Wilmar International Limited and First Pacific Company Limited, on their $1.9 billion acquisition of Goodman Fielder.
- Both ASX-listed and private equity acquirers in various private M&A transactions, including Beach Energy on its acquisition of Lattice Energy from Origin Energy, CHAMP private equity on unsecured financing and warrant acquisition into Panthera and Royal Philips on its acquisition of Australian Pharmacy Sleep Services.
Adam also works with a number of digital and technology businesses in the context of their corporate transactions including advising:
- Primary Health Care on the sale of Medical Director by Healius – as part of the sale process, we structured and negotiated long term contracts between Medical Director and Primary Health Care’s medical centres and diagnostic imaging businesses’ regulating the development of Medical Director’s software product and its use by those businesses.
- Australian cashback ecosystem, Cashrewards, on its IPO and ASX listing – Cashrewards allows its members to browse brands and access cashback offers while shopping online or instore (through card-linked offers with Visa and Mastercard).
- Velocity Frequent Flyer, the loyalty program of Virgin Australia Airways, on its potential IPO and ASX listing – a key issue in IPO preparations was Velocity’s data access from its interaction with members.
- PropertyGuru on its potential IPO and ASX listing – PropertyGuru operates a digital property classified marketplace in Singapore and 4 other SE Asian countries.
- ASX-listed company Nearmap on capital raisings and general corporate advice – Nearmap is a data imagery company, offering a detailed geospatial data set to its subscription-based clients.
- web.com on its acquisition of Dreamscape Networks (Australia’s leading web presence solutions provider) and with follow on acquisitions.
Adam has also advised on general corporate advisory matters, including acting for Ardent Leisure Group on its destapling and corporatisation transaction involving multiple schemes of arrangement and corporate restructuring. Adam also advises various Australian and multi-national companies on their employee incentive arrangements and share plans.
Awards and Recognition
Adam is recognised in the Corporate Law, Equity Capital Markets Law, Mergers & Acquisitions Law and Private Equity Law categories.
Adam is ranked for Capital Markets: Equity.
Adam is ranked for Capital Markets: Equity.
Adam is recognised as a Leading Individual for Capital Markets: Equity.
Adam is recognised for M&A and Capital Markets: Equity and is only one of two lawyers recognised as an Asia Future Leader in this area.
Adam won Capital Markets Partner of the Year.