Gilbert + Tobin advised AMA Group Limited on the proposed demerger of its Automotive Component, Accessory and Procurement Business; and the proposed acquisition of the post-demerger AMA Group and its remaining vehicle panel repairs business by The Blackstone Group, for an enterprise value of A$508 million.
Under the first transaction, AMA Group will demerge its Automotive Component, Accessory and Procurement Business into a new company to be listed on the ASX. AMA Group shareholders at the time of the demerger will receive one share in the new company for each share they own in AMA Group. The demerger will be effected by way of Scheme of Arrangement and is subject to approval by AMA Group shareholders.
In a separate transaction, The Blackstone Group has agreed to acquire the post-demerged AMA Group (including its Vehicle Panel Repairs Business), for an enterprise value of A$508 million. This transaction is also to be effected by way of Scheme of Arrangement and is subject to approval by AMA Group shareholders.
These transactions are significant as they represent a milestone for AMA Group, marking the rapid rise of AMA Group over the past eight years into the leading vehicle panel repairs business in Australia and the interaction of two independent transactions (both effected by way of scheme of arrangement).
AMA Group Limited acquires, develops, and operates business in the automotive aftercare market. The company, led by Raymond McGregor Malone, Ashley L Killick and Andrew Hopkins, in 2017 recorded A$382 Million revenues.
Gilbert + Tobin advised AMA Group with a team led by Costas Condoleon (Picture).
Involved fees earner: Costas Condoleon – Gilbert + Tobin;
Law Firms: Gilbert + Tobin;
Clients: AMA Group Limited;