Thomsons has advised the shareholders of equipment manufacturer HMA International on its ~A$170 million acquisition by private equity firm Anchorage Capital Partners, implemented through an innovative dual scheme of arrangement structure.
The transaction involved the acquisition of 100% of the shares in HMA International, a long-standing industrial products business, delivering liquidity to shareholders.
A defining feature of the transaction was the adoption of a dual scheme structure for the same class of securities - a novel approach designed to address the complexities arising from HMA’s unlisted status and its shareholder base of more than 50 members, which brought the transaction within the ambit of Australia’s takeover provisions.
The Thomsons team was led by Partner Venkatesh Ananthakrishnan, with support from Associate Felicity Thurgate and Lawyer Zoe Faraj.