Archer Capital’s acquisition of Keycorp

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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.