This is among the biggest private, founder-led transactions in Australian business, the firm says
MinterEllison has advised health, pharmaceuticals and beauty company DBG Global Enterprises Pty Ltd in relation to a definitive agreement inked with international merchant bank BDT & MSD Partners for a $1.6bn minority investment.
The investment is to be made through BDT & MSD’s affiliated funds. In addition to the $1.6bn initial investment, access to up to $1bn of extra capital for future acquisitions will be provided.
According to MinterEllison, this is among the biggest private, founder-led transactions in Australian business. Co-lead partner Stephen Clarke said that the deal “reflects the strength of both DBG and Australia’s founder-led businesses, and the global appetite for strategic investment in high-growth, innovation-driven companies”.
He explained that the connection with BDT & MSD positions DBG for expansion. The proceeds from the investments include primary capital for growth support and secondary liquidity for current shareholders.
Under the deal, DBG is valued at more than $7bn. The transaction is pending customary regulatory approvals.
The MinterEllison team helped DBG with all aspects of the deal, including vendor legal due diligence, sale process structuring, bidder engagement, negotiation of transaction documents and transaction structuring, FIRB and competition. Clarke spearheaded the team alongside partners Jeremy Blackshaw and Joseph Price; they were supported by senior associate Korey Barbousas and associates Alice Tyson and Liam Plant.
The firm’s M&A/capital markets and banking and finance experts also pitched in, with the litigation, tax, workplace, IT, IP, insurance and real estate teams offering extra support.
DBG was launched by executive chair and CEO Dennis Bastas and executive director Con Tangalakis in 2015.
