Gilbert + Tobin is acting as issuer’s counsel to Spotless Group Holdings Limited, on its initial public offering and listing on ASX. The indicative price range set out in the prospectus lodged with ASIC today implies an enterprise value of between approximately $2.37 billion and $2.55 billion for Spotless on listing.
The offer to be made under the prospectus comprises an offer of new shares and a sale of some of the existing shares presently held by funds advised by Pacific Equity Partners, co-investors and management.
Lead partner on the transaction, Andrew Bullock, commented on the transaction “We are very pleased to have been helping Spotless on its initial public offering. The Spotless’ management team has done a brilliant job of improving the company since we helped the PEP-advised funds take it private in 2012 and we hope Spotless continues its success when it returns to the public markets”.
Corporate Advisory partners Andrew Bullock and Rachael Bassil led the team and were supported by lawyers Ilona Roze, Tim Perry, Jessica Van Rooy, Adam D’Andreti, Shan-Ree Tan, James Tannock and Samuel Kang as well as many others across the firm. James Lewis has led the finance team negotiating new corporate debt facilities to operate post IPO.
Gilbert + Tobin’s capital markets team advises issuers, investment banks, underwriters, private equity funds and institutional investors across the range of Australian capital markets transactions. This transaction follows on from our ranking of 1st by Thomson Reuters in advising both the issuer and the managers on relevant transactions (by deal count) for the first quarter of 2014. The IPO of Spotless reinforces our position as one of Australia’s leading capital markets legal teams.
