MinterEllison helps building services company raise $96m in IPO

MinterEllison has helped Johns Lyng Group (JLG) – an integrated building services firm – raise about $96m during the initial public offering of its shares on the Australian Securities Exchange (ASX).

The law firm said it helped JLG before listing, as it guided the company through a complex restructure that is expected to simplify ownership and maximise shareholder value. It said the deal included a sell-down by the owners of JLG.

MinterEllison advised JLG on all aspects of the IPO and listing, including:

• undertaking and chairing the due diligence process
• drafting the prospectus
• obtaining Corporations Act modifications from the Australian Securities & Investments Commission (ASIC)
• listing rule waivers from the ASX, and
• advising on various employment arrangements for executives and senior managers

"The IPO attracted overwhelming support from investors. ... This is a key moment for the Johns Lyng Group, with the IPO opening up an exciting new chapter in its long history,” said MinterEllison partner Bart Oude-Vrielink, who led the law firm’s team. He was aided by special counsel Sudharshan Senathirajah, senior associate Steven Wang, and associate Sarah Soon.

JLG offers building and restoration services across Australia. Its client list includes the likes of RACV, Suncorp, CGU and QBE.


Related stories:
Top firms act as food behemoth takes in Australasian biz
Minters welcomes back partner