Gilbert + Tobin is advising leading Australasian private equity firm, Pacific Equity Partners Pty Limited (PEP) on the acquisition of Spotless Group Limited (ASX/NZX: SPT, Spotless).
The Spotless board approved the $720 million offer on 30 April 2012, entering into a Scheme Implementation Agreement with Pacific Industrial Services BidCo Pty Ltd, an entity owned by funds advised by PEP and its affiliates.
Corporate Advisory Partner Andrew Bullock is lead legal adviser to PEP and is supported by partners Rachael Bassil and David Clee and lawyers Hiroshi Narushima, Timothy Perry, Shan-Ree Tan and Ilona Roze. Leveraged finance Partner John Schembri is also advising PEP with lawyer Adela Smith.
“We are very pleased to have helped PEP to an agreed implementation agreement with Spotless and look forward to finalising a successful transaction over the next few months,” said Andrew Bullock. “Public-to-private transactions are never easy and this one has had its challenges but PEP is an experienced buyer of listed companies and it has been a real pleasure working with them to date.”
Spotless is an international services company specialising in outsourced facility management, including managed services, cleaning services, food services, laundry services and retailer services.
The transaction is expected to complete in August 2012.
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