SME lender acquired with advice from Allens

$260m acquisition is the firm’s client’s second successful acquisition in Australia

SME lender acquired with advice from Allens

Allens advised an American private equity firm in its second successful acquisition in Australia.

The firm advises Cerberus Capital Management and its affiliates on the acquisition of certain subsidiaries of Axsesstoday Ltd, an Australian equipment-finance products provider to small and medium businesses.

The $259.7m sale follows the sale campaign led by administrator Deloitte and its advisers, Moelis Australia.

“Cerberus' acquisition of SME equipment finance lender Axsesstoday is its second successful acquisition in Australia. We were delighted to work with Cerberus again, having previously advised on its acquisition of Bluestone Group's mortgages business last year,” said Tom Story, Allens lead partner on the deal.

Allens said that its cross-practice team on all aspects of the acquisition.

Story was supported from the corporate/private equity practice by managing associate Noah Obradovic, senior associate Chris Travers, associate Natasha Ng, and lawyers Andrew Mon and Aaron Wong.

Partner Chris Prestwich, associate Ryan Jameson, and lawyer Ellen Trevanion worked from the restructuring and insolvency group. Disputes and investigations partner Peter Haig and senior associate Andrew Shetliffe also advised on the deal.

Banking and finance matters were handled by partners Benjamin Downie and Renee Boundy, senior associate Zac Kedgley-Foot, and law graduate Mona Abu Zalaf. Employment managing associate Sikeli Ratu also advised on the deal.

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