Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised the mandated lead arrangers (MLAs) in respect of debt facilities being provided to Bain Capital to fund the proposed take-private acquisition of aged care operator Estia Health Limited (ASX:EHE) (Estia) for an enterprise value of A$959 million.
Pursued by global sponsor Bain Capital for five months, Estia operates as one of Australia’s larger residential aged care providers with 70+ homes in South Australia, Victoria, New South Wales and Queensland caring for over 8,000 residents each year.
The MLAs to Bain Capital comprise a number of domestic Australian banks.
Led by banking and finance partner John Mosley, Corrs advised the MLAs on the debt facilities being provided to fund the transaction. The team was supported by experts from across the corporate and banking and finance team, including partners Adam Foreman, Michael Catchpoole, Simon Mifsud, special counsel Caitlin Chiu, and associate Brittany Weir.
Commenting on the matter, partner John Mosley said: “It was a pleasure to work with the mandated lead arrangers and Bain Capital to advise on the debt facilities for such a significant transaction.
“Operating in a highly regulated sector which has been subject to intense levels of scrutiny, it was pleasing to see such strong support for a major aged care acquisition like this.”