Private Equity

Corporate

Corporate » Private Equity

Private equity has emerged as a serious institutional asset class in recent times.

It has become important to the growth and transformation of business, providing essential finance to enterprise for expansion or rescue financing.

After a period of relative quiet, the private equity transaction market has gathered momentum again, driven in part by the return of liquidity to the leveraged finance market and the realignment of multiples and vendor expectations.

Closing a successful private equity transaction requires a flexible and innovative approach and a legal team with excellent project management skills.

Corrs’ team of internationally experienced lawyers advises leading private equity houses at every point of the private equity fund cycle including fund formation, expansion capital investments, LBOs, MBOs, MBIs, secondary buy-outs, capital raisings, exits and divestments.

Our Experts

Andrew-Mackenzie.jpg

Andrew Mackenzie

Special Counsel Location Brisbane Profile
DALEY Felicity website grey SIZED TH

Felicity Saxon

Special Counsel Location Sydney Profile
TRACEY Gaynor 90x130

Gaynor Tracey

Partner Location Sydney Profile
Jeremy Horwood.jpg

Jeremy Horwood

Partner Location Brisbane Profile
Mellos Kon CMYK 90x130

Kon Mellos

Partner Location Melbourne Profile
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Liming Huang

Partner Location Melbourne Profile
GRAHAM Nicole website grey sized TH

Nicole Graham

Special Counsel Location Sydney Profile
Philip Kapp.jpg

Philip Kapp

Consultant Location Sydney Profile

Our Experience

Apax Partners acquires Paradigm

Despite volatile international market conditions, global private equity firms like Apax continue to eye Australian-based companies and have a high appetite and capacity for large secondary buyouts. Under advice from Corrs Chambers Westgarth, Apax Partners recently made a US $1 billion cash acquisition of Paradigm Software Group.

An Apax-led consortium purchased the global operations of Paradigm, an independent software provider focussed on the oil and gas exploration industry. Their Australian operations include a key research and development facility together with offices in Brisbane and Perth. They have a presence on six continents.

More

Archer Capital’s $300 million V8 Supercar private equity deal

V8 Supercar racing is one of Australia’s fastest growing sports and the premier motorsport category in Australasia with millions of television viewers in the country. Corrs Chambers Westgarth advised leading private equity house Archer Capital on its acquisition of a controlling stake in V8 Supercars Holdings Pty Limited (V8 Supercars) in 2011.

The deal, which was undertaken at an enterprise value of more than $300 million, will ensure the continued development of V8 Supercars motor sport in Australia.

According to Andrew Gray, partner of Archer Capital, it was: “the excellent legal and commercial support provided by the [Corrs] team that was a vital part of our capacity to win in a competitive bidding process”.

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Archer Capital’s acquisition of Keycorp

Private equity house Archer Capital’s public to private acquisition of all of the shares in Keycorp Limited was one of the very few take privates completed by private equity in Australia in 2010. Keycorp Limited is a provider of services to the payments and retail industry, and believed the private equity model was best to support its next phase of growth.

Corrs’ role involved advising Archer Capital via a wholly owned subsidiary on its Keycorp acquisition which was completed by way of a scheme of arrangement. Shareholders approved the scheme on 19 November 2010. The Scheme was implemented in December 2010.

More

Forestry Plantations Queensland’s sale of assets to international private equity consortium

Forestry Plantations Queensland (FPQ) was the first of five businesses to be sold or leased by the Queensland Government to the private sector as part of the government’s $16.5 billion forestry privatisation program.

In a bid to reform the state balance sheet and build a stronger state economy, the Queensland Government sold FPQ’s main assets to a Hancock managed consortium for $603 million in June 2010.

The deal included a 99 year licence to manage, harvest and re-grow plantation timber on over 200,000 hectares of plantation lands.

Corrs advised major Danish investor ATP Timberland Invest K/S and a large institutional UK investor. Together they were the key equity investors in the successful Hancock managed consortium.

More

Our Thinking

ICOs are everywhere and nowhere: how do you regulate a blockchain?

Could cryptocurrencies become just as common as mobile apps? There are more than a thousand on the market and things are only going to get more crowded in this evolving space.

More

Rating agency’s duty of care to investors upheld in Australia

The Federal Court has upheld a finding that Standard & Poor’s was negligent in giving a financial product a AAA rating. Does this open the door for copycat actions?

More

Private equity in Australia: Market and regulatory overview

Q&A guide to private equity law in Australia.

More

The complex issues for Nominee Directors

Nominee directors and their appointing shareholders are faced with a minefield of sometimes conflicting duties. What are the key risks and how can they be managed?

More

Our Experience

Apax Partners acquires Paradigm

Despite volatile international market conditions, global private equity firms like Apax continue to eye Australian-based companies and have a high appetite and capacity for large secondary buyouts. Under advice from Corrs Chambers Westgarth, Apax Partners recently made a US $1 billion cash acquisition of Paradigm Software Group.

An Apax-led consortium purchased the global operations of Paradigm, an independent software provider focussed on the oil and gas exploration industry. Their Australian operations include a key research and development facility together with offices in Brisbane and Perth. They have a presence on six continents.

Archer Capital’s $300 million V8 Supercar private equity deal

V8 Supercar racing is one of Australia’s fastest growing sports and the premier motorsport category in Australasia with millions of television viewers in the country. Corrs Chambers Westgarth advised leading private equity house Archer Capital on its acquisition of a controlling stake in V8 Supercars Holdings Pty Limited (V8 Supercars) in 2011.

The deal, which was undertaken at an enterprise value of more than $300 million, will ensure the continued development of V8 Supercars motor sport in Australia.

According to Andrew Gray, partner of Archer Capital, it was: “the excellent legal and commercial support provided by the [Corrs] team that was a vital part of our capacity to win in a competitive bidding process”.

Archer Capital’s acquisition of Keycorp

Private equity house Archer Capital’s public to private acquisition of all of the shares in Keycorp Limited was one of the very few take privates completed by private equity in Australia in 2010. Keycorp Limited is a provider of services to the payments and retail industry, and believed the private equity model was best to support its next phase of growth.

Corrs’ role involved advising Archer Capital via a wholly owned subsidiary on its Keycorp acquisition which was completed by way of a scheme of arrangement. Shareholders approved the scheme on 19 November 2010. The Scheme was implemented in December 2010.

Forestry Plantations Queensland’s sale of assets to international private equity consortium

Forestry Plantations Queensland (FPQ) was the first of five businesses to be sold or leased by the Queensland Government to the private sector as part of the government’s $16.5 billion forestry privatisation program.

In a bid to reform the state balance sheet and build a stronger state economy, the Queensland Government sold FPQ’s main assets to a Hancock managed consortium for $603 million in June 2010.

The deal included a 99 year licence to manage, harvest and re-grow plantation timber on over 200,000 hectares of plantation lands.

Corrs advised major Danish investor ATP Timberland Invest K/S and a large institutional UK investor. Together they were the key equity investors in the successful Hancock managed consortium.

Our Thinking

ICOs are everywhere and nowhere: how do you regulate a blockchain?

Could cryptocurrencies become just as common as mobile apps? There are more than a thousand on the market and things are only going to get more crowded in this evolving space.

Rating agency’s duty of care to investors upheld in Australia

The Federal Court has upheld a finding that Standard & Poor’s was negligent in giving a financial product a AAA rating. Does this open the door for copycat actions?

Private equity in Australia: Market and regulatory overview

Q&A guide to private equity law in Australia.

The complex issues for Nominee Directors

Nominee directors and their appointing shareholders are faced with a minefield of sometimes conflicting duties. What are the key risks and how can they be managed?

Our Experts

Andrew-Mackenzie.jpg

Andrew Mackenzie

Special Counsel Brisbane +61 7 3228 9330
DALEY Felicity website grey SIZED TH

Felicity Saxon

Special Counsel Sydney +61 2 9210 6585
TRACEY Gaynor 90x130

Gaynor Tracey

Partner Sydney +61 2 9210 6151
Jeremy Horwood.jpg

Jeremy Horwood

Partner Brisbane +61 7 3228 9790
Mellos Kon CMYK 90x130

Kon Mellos

Partner Melbourne +61 3 9672 3174
HUANGLimingTH.jpg

Liming Huang

Partner Melbourne +61 3 9672 3132
GRAHAM Nicole website grey sized TH

Nicole Graham

Special Counsel Sydney +61 2 9210 6360
Philip Kapp.jpg

Philip Kapp

Consultant Sydney +61 2 9210 6768