Adore Beauty’s $250 Million Initial Public Offering

G+T advised Adore Beauty on its successful IPO and ASX listing.

The IPO is the largest to list on the ASX in 2020 to date.

Adore Beauty was owned by co-founders Kate Morris and James Height and the Quadrant Growth Fund. It was founded in 1999 in Kate Morris’ garage and has since grown to be Australia’s largest pureplay online beauty retailer.

Adore Beauty raised around $250 million giving the company a market capitalization of $635 million and an enterprise value of $615 million.

The G+T team was led by Corporate Advisory partner Rachael Bassil (Picture) with support from lawyers Olivia Blakiston, Matthew Coe, Clancy Bradshaw and Beverly Parungao. Partner Gail Christopher advised on the banking aspects.

Involved fees earner: Rachael Bassil – Gilbert + Tobin; Olivia Blakiston – Gilbert + Tobin; Clancy Bradshaw – Gilbert + Tobin; Gail Christopher – Gilbert + Tobin; Matthew Coe – Gilbert + Tobin; Beverly Parungao – Gilbert + Tobin;

Law Firms: Gilbert + Tobin;

Clients: Adore Beauty;

Author: Michael Patrini