Leveraged Buy-Outs

No other law firm in Australia can match the depth and breadth of Freehills’ buy-out experience. We have advised on many of the landmark buy-out transactions over recent years. Our market leading experience ensures that we are familiar with the issues our clients are likely to face and are able to deal with them quickly, efficiently and cost-effectively.

Our experience stretches back to advising the private equity syndicate that backed the public to private management buy-out of the Just Jeans Group (the first private equity backed listed company acquisition in Australia in over a decade). More recently we have been involved in bids involving a private equity firm partnering with a trade buyer to make the purchase (for example Tempo Services) and in proposals for private equity funds to joint venture with listed entities (for example Seven Network and KKR, Flight Centre and Pacific Equity Partners).

We pride ourselves on our strategic thinking and our technical ability to ensure optimal deal execution. We have developed market leading precedents and processes to integrate the four main streams of activity being: due diligence and acquisition, leveraged finance, consortium arrangements, and management equity participation.

Public to private buy-outs

We have advised:

• the Seven Network on its A$4 billion media joint venture with Kohlberg Kravis Roberts & Co
• the DCA Group on its acquisition by CVC Asia Pacific and CVC Capital Partners
• the founder members of the bidding consortium, who hold 57 per cent of Flight Centre, on its proposed A$1.6 billion public to private proposal for Flight Centre
• Catalyst on the buy-out of Just Jeans, the first public to private management buy-out in Australia
• Newbridge Capital as a member of the Airline Partners Australia consortium’s offer to acquire Qantas Airways
• Archer Capital on its A$369 million purchase of Rebel Sport by scheme of arrangement, and
• DB Capital Partners on its A$210 million public to private buy out of Tempo Services by way of scheme of arrangement.

Management and leveraged buy-outs

We have advised:

• Newbridge Capital on its A$1.4 billion acquisition of Myer from Coles Myer
• Pacific Equity Partners on its acquisition of Godfreys
• Catalyst on its acquisition of AEP Industries
• Gresham Private Equity on its acquisition of Witchery Fashions
• ABN Amro Capital, CHAMP and Investec Wentworth Private Equity on their purchase of the Priceline retail business
• Pacific Equity Partners on its acquisition of Vision Systems fire and security business
• Archer Capital on its acquisition of Paradise Foods, and
• Archer Capital on its acquisition and subsequent disposal of 50 per cent of John West to Simplot Australia.

Awards

• Australian Law Awards, M&A Law Firm of the Year, 2006

League Tables

• Highest number and value of announced and completed M&A deals 2004, 2005 and 2006 – Thomson Financial M&A League Tables Australia and New Zealand.

Legal Guides

• PLC Which Lawyer?, ranked Al Donald as one of the two leading private equity lawyers in Australia, 2007.
• Nick Wormald is one of only two lawyers in Australia named in the International Financial Law Review’s 2006 global listing of 25 leading private equity.