MedAdvisor
MedAdvisor

Advisory | Transactions | Due Diligence

Engaged by MedAdvisor, a world class medication platform, to assist with their c.USD34.5 million acquisition of Adheris Health, a US leader in tailored opt-out direct-to-patient medication adherence programs. We assisted with financial due diligence, financial modelling, integration and acquisition accounting advice. Our global alliance partner, Alvarez and Marsal, performed tax due diligence and structuring advice out of its New York office.

__Advisory__ __Due Diligence__ __Transactions__ Health & Aged Care
Virgin Australia
Virgin Australia

Advisory | Transactions | Due Diligence

Engaged by Cyrus Capital Partners L.P. to provide acquisition due diligence, offer structuring advice and stakeholder engagement assistance as it considered acquiring Virgin Australia via a sale process conducted by Virgin Australia’s Administrators. Our analysis focused on key business drivers, forecast assumptions and cash flow requirements of the business post COVID-19. We also provided assistance in drafting Cyrus’ offer for the business and liaised with key stakeholders including government, aircraft lessors, airports and unions.

__Advisory__ __Due Diligence__ __Transactions__ Transport & Distribution
EnergyAustralia
EnergyAustralia

Advisory | Transactions | DUE DILIGENCE

Acquisition due diligence on several businesses which supplied coal to EnergyAustralia’s NSW generation assets. Assistance included hands on integration planning and project management as a workstream lead working directly with the business. Our work resulted in the integration of several key workstreams up to six months ahead of schedule resulting in material cost savings.

__Advisory__ __Due Diligence__ __Transactions__ Infrastructure
AusNet
AusNet

Advisory | Transactions | DUE DILIGENCE

McGrathNicol provided due diligence to AusNet Services on their acquisition of Geomatic Technologies a provider of mobile and special technology solutions to solve asset management challenges. Our scope included normalised earnings, profit and loss, balance sheet, and working capital, and also included advice around net debt position and input into the working capital completion account mechanism.

__Advisory__ __Due Diligence__ __Transactions__ Infrastructure
McMillan Shakespeare
McMillan Shakespeare

Advisory | Transactions | Due Diligence

McMillan Shakespeare Limited engaged McGrathNicol to lead its acquisition due diligence in respect of its potential merger with Eclipx Group Limited (ECX). Against the backdrop of ECX’s unexpected disclosure of underperformance in certain business units, we were specifically chosen for our unique ‘hard edged’ investigative skills.

__Advisory__ __Due Diligence__ __Transactions__ Financial Services
Fuchs Lubricants
Fuchs Lubricants

Advisory | Transactions | Due Diligence

Acquisition advisory and due diligence for Fuchs Lubricants (Australasia) Pty Ltd regarding its acquisition of Nulon Products Australia (& NZ subsidiary). This acquisition provides Fuchs with a national footprint in the retail lubricants and coolants segment.

__Advisory__ __Due Diligence__ __Transactions__ Manufacturing
EBI Australia
EBI Australia

Advisory | Transactions | Due Diligence

Provided financial due diligence and advisory services to Eternal Best Industries Limited on the acquisition of Spendless Shoes, a 220+ store business. Our scope spanned the full transaction lifecycle including term sheet negotiation, financial due diligence, price negotiation, day 1 planning, the net asset adjustment mechanism and drafting aspects of the share sale agreement. Our analysis identified a number of material issues which were ultimately resolved via a material purchase price adjustment and/or protection in the share sale agreement.

__Advisory__ __Due Diligence__ __Transactions__ Retail
WhistleOut
WhistleOut

Advisory | Transactions | Due Diligence

Vendor due diligence and sell side assistance on behalf of WhistleOut, a consumer comparison platform focussed on mobile, broadband and pay TV services principally across Australia and the US. The business was successfully sold to Clear Link Technologies, a subsidiary of Sykes Enterprises (Nasdaq:SYKE).

__Advisory__ __Due Diligence__ __Transactions__ Technology
Tribe Breweries
Tribe Breweries

Advisory | Transactions | Due Diligence

Provided vendor due diligence services to Tribe Breweries on its successful minority stake sale to Advent Private Equity. The capital raised from the transaction was utilised to significantly expand Tribe's brewing capacity through the construction of a new brewery in Goulburn.

__Advisory__ __Due Diligence__ __Transactions__ Hospitality
The Foundry
The Foundry

Advisory | Transactions | Due Diligence

Acquisition due diligence for The Foundry, an investment firm founded by some of the former owners of Swisse Wellness. We assisted The Foundry with taking a minority stake in WelleCo, a plant based supplement business, founded by Andrea Horwood and Elle McPherson.

__Advisory__ __Due Diligence__ __Transactions__ Hospitality
Remedy Kombucha
Remedy Kombucha

Advisory | Transactions | Due Diligence

Vendor due diligence on Remedy Kombucha whose core business is the brewing, packaging and sale of kombucha. The vendor due diligence focused on the rapid historical and forecast growth of the business, including significant capex undertaken at a new brewing facility.

__Advisory__ __Due Diligence__ __Transactions__ Hospitality
Axel Equity Partners
Axel Equity Partners

Advisory | Transactions | Due Diligence

Financial due diligence with respect to Axle Equity Partners' acquisition of 50% of the Star Car Wash Café group, one of the largest car wash operators in Australia with c.90 sites. Our scope of work focussed on key aspects of Axel’s investment thesis including quality of earnings, scalability of operations and capital expenditure requirements.

__Advisory__ __Due Diligence__ __Transactions__ Retail
Cabcharge
Cabcharge

Advisory | Transactions | Due Diligence

Financial due diligence for Cabcharge on the acquisition of Yellow Cabs, the largest taxi fleet operator in Queensland. Our work involved an assessment of quality of earnings, net assets and working capital requirements having regard to changes in the target business brought about by the acquisition.

__Advisory__ __Due Diligence__ __Transactions__ Transport & Distribution
Hunter Hall
Hunter Hall

Advisory | Transactions | Due Diligence

Due diligence on behalf of the Hunter Hall board in regards to the merger with Pengana Capital. The merger created a leading listed diversified funds management group with c.$3b in funds under management.

__Advisory__ __Due Diligence__ __Transactions__ Financial Services
Guardian Early Learning Group
Guardian Early Learning Group

Advisory | Transactions | Due Diligence

Financial due diligence on behalf of Guardian Early Learning Group in respect of its acquisition of independent child care centres. Our approach involved working with Guardian management in assessing the forecast financial performance of proposed acquisitions, drawing on our understanding of industry drivers.

__Advisory__ __Due Diligence__ __Transactions__ Community
Fairfax Radio
Fairfax Radio

Advisory | Transactions | Due Diligence

Due diligence assistance to Fairfax Media in relation to the c.$100m merger of Fairfax Radio with Macquarie Radio. Our work included vendor due diligence on Fairfax Radio, acquisition due diligence on Macquarie radio and assistance with the simultaneous carve out and sale of 96FM to APN for $78m.

__Advisory__ __Due Diligence__ __Transactions__ Media & Communications
RM Williams
RM Williams

ADVISORY | TRANSACTIONS | DUE DILIGENCE

We provided acquisition support for L Capital Asia's investment in RM Williams, a fully integrated manufacturer, wholesaler and retailer of apparel and one of Australia’s most iconic brands. We worked closely with our client in forming a view on normalised earnings and assisted in the negotiation process on the completion account mechanism. Our client successfully completed a minority investment in the business.

__Advisory__ __Due Diligence__ __Transactions__ Retail