Australia: Private equity doubles

Author: | Published: 1 Dec 2006
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Recommended firms
Tier 1
Allens Arthur Robinson
Blake Dawson Waldron
Clayton Utz
Mallesons Stephen Jaques
Tier 2
Gilbert + Tobin
Minter Ellison
Tier 3
Atanaskovic Hartnell
Baker & McKenzie

Australia's M&A market has enjoyed strong growth this year, almost doubling its total deal value from the same period in 2005.

Private equity funded transactions have seen an increase in both size and value of transactions. While the January to November figures for 2005 show 48 deals, with a total value of $3.2 billion, the same period for this year shows a near doubling of deals, to 85 and a three-fold increase to $9.2 billion, according to figures from data provider Dealogic.

However, straight company-to-company M&A has remained almost identical in the number of transactions, while generating almost twice the amount of capital. The 953 deals from January to November 2005 compare with 977 in the same period this year. But the total value has risen from $39.4 billion to $68.5 billion this year.

Major deals include Toll Holdings' $4.4 billion off-market takeover of the Patrick Corporation. Clayton Utz advised Toll Holdings.

The firm is also advising Mayne Pharma on its $2.6 billion acquisition by US hospital products manufacturer Hospira. Rod Halstead is the M&A practice head. The firm is established in tier one of IFLR's recommended M&A firms this year along with Allens Arthur Robinson, Blake Dawson Waldron, Freehills and Mallesons Stephen Jaques.