Clifford Chance has advised Pemba Capital Partners on the deal.
Pemba acquired two independent premium funding businesses, Premium Funding and Principal Finance, to create Australia’s largest independent player in the insurance premium funding sector.
The acquisitions, which completed on 29 January 2021, are backed by a new AU$250 million debt facility from ANZ Banking Group.
The combined businesses will have a combined AU$600 million in annual turnover growing at about 15 percent a year.
Partner Mark Currell (Picture) led a cross-practice team with support from senior associate Marcus Berghouse and associate Alice Bradshaw. The financing aspects of the transaction were led by Australia Managing Partner Richard Gordon, supported by senior associates Nick Henneberry and Sherry Khalili, and associate Madeleine Burrill.
Involved fees earner: Marcus Berghouse – Clifford Chance; Alice Bradshaw – Clifford Chance; Madeleine Burrill – Clifford Chance; Mark Currell – Clifford Chance; Richard Gordon – Clifford Chance; Nicholas Henneberry – Clifford Chance; Sherry Khalili – Clifford Chance;
Law Firms: Clifford Chance;
Clients: Pemba Capital Partners ;