National law firm Mills Oakley’s Corporate Advisory team continues to build on a great record of success in 2023 closing more than 60 M&A and Equity Capital Markets transactions.

While reported data suggests 2023 was a challenging year in M&A, Mills Oakley closed more transactions
than in 2022, placing the firm in the top 10 firms by deal count in Mergermarket’s league table for

Australasia for the second year running¹.
Deal highlights for the group included:

• Consolidated Property Services – sale of 100% of shares to Bidvest Group (JSE:BVT).
• Founder and CEO Shareholders of Honan Insurance – sale of shares to Marsh & McLennan (EV circa A$700m)
• Wildcat Resources Limited (ASX:WC8) – acquisition of the Tabba Tabba Lithium-Tantalum Project from Global Advanced Metals Wodgina Pty Ltd
• Shareholders of Tibaldi Australasia – sale of 100% of shares to a Singaporean conglomerate focused on investments in the consumer products sector across the Asia-Pacific.
• Australian Pacific Coal Limited – A$100m fully underwritten rights issue
• Englehart Group Holdings – acquisition of 100% of the shares in Englehart Homes Pty Ltd
• IntelliHR – multiple competing takeover bids including the successful on-market takeover bid made by Humanforce Holdings Pty Ltd (A$77m)
• Polaris Marine Group – acquisition of the marine ship building and servicing facilities based out of the Harwood Slipway in Yamba
• Funds managed by GP Strategic Capital – Acquisition of a 46.3% relevant interest and 52.2% economic interest in Navigator Global Investments (ASX:NGI) in US$200m transaction
• Auctus Investment Group Limited (ASX:AVC) – sale of the Pet Fund’s interest in PETstock to Woolworths Group Ltd (ASX: WOW)
• Callidus Process Solutions and its Shareholders (incl. Pon) – sale of 100% of the shares to SCF Partners
• Private equity buyer – acting for PE buyer on its acquisition of Australia’s nationwide leading glass fencing company.

The team continues to go from strength to strength. In addition to opening a new office in Adelaide, five new Corporate Partners were welcomed in 2023. These included Sydney Partner Matt Egerton-Warburton who was last month appointed chair of regenerative farming not-for-profit group The Mulloon Institute, replacing Gary Nairn AO. In Sydney this month the firm also welcomed M&A Partner Grant Koch from DLA Piper. Grant is currently working on the acquisition of Cura Hospital Group, acting for Intermediate Capital Group, who are the successful bidder in a hotly contested sale process. The seller is Fresenius. If conditions are satisfied in time, the deal will be closed at the end of March 2024. The purchase price is approximately $615m.

Corporate Advisory Partner Tony Symons said the team was delighted to assist clients in achieving outstanding outcomes in a range of complex and interesting transactions across technology, FMCG, professional services, retail, energy and property.

“Consistent with the broader strategy of the firm, rather than growth for the sake of growth, the Corporate Advisory team continues to build out our team by adding market leading lawyers across our national offices. The firm now has the capability to advise on complex transactions in all sectors.

“Our pipeline for the year ahead remains strong and our conversations with clients and corporate advisors instil us with confidence that there will be plenty of opportunities in 2024.”

About Mills Oakley
Mills Oakley is a full service, national law firm with offices in Adelaide, Brisbane, Canberra, Melbourne, Perth and Sydney. Celebrating a proud history of 160 years, we remain innovative and focused on our clients.