Ashurst advises Macquarie Capital and Spectris on the proposed sale of their shares in EMS Brüel & Kjær Holdings
Ashurst advised Macquarie Capital and Spectris in relation to the proposed sale of their shares in EMS Brüel & Kjær (EMS B&K) Holdings Pty Ltd (each with an equal 45% shareholding) to Envirosuite, an ASX listed company. As part of the transaction the minority shareholders also sold their shares to Envirosuite.
EMS B&K provides environmental, noise and vibration monitoring systems, predominantly to airports. EMS B&K generated revenues of AU$47.5 million in 2019.
Envirosuite has sought to raise capital to fund the acquisition. Bell Potter is the lead manager and underwriter on the capital raise. The transaction remains subject to Envirosuite obtaining shareholder approval. The parties have entered into a share sale agreement and will enter into a suite of ancillary documents at completion (if the necessary approvals are obtained).
The Ashurst team was led by corporate transactions partner John Brewster, who comments: "Ashurst is delighted to have the opportunity to advise Macquarie Capital and Spectris on this dynamic deal. This complex transaction was negotiated and signed in a tight timeframe and required the Ashurst team to mobilise quickly. The proposed transaction will, if approved, deliver a great result for our clients."
John was assisted by counsel Cynthia Anandajayasekeram, lawyers Ryan Kabat, Gabriel McGuinness (admitted in Ireland, not admitted in Australia), and John Saunders, with further support from tax partner Geoff Mann.
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