Deal: Humanwell Healthcare and CITIC Capital Partners acquired Ansell’s sexual wellness business.

Value: US$600 million

Area: M&A

Key players: The King & Wood Mallesons team was led by partners David Friedlander (pictured), Lee Horan and Scott Bouvier, and special counsel Matt Egerton-Warburton. They were supported by senior associates Clifford Sandler and Melissa Miller, and solicitors Robert Garritano, Stephanie Daaboul, Vishaal Sharma, Lauren Chape, Yixin Gong and Maggie Chan.

The King & Wood Mallesons team in China was led by partner Han Xue and senior associate Yingyuan Xue. The firm’s Singapore team was led by partner Michael Lawson and senior associate Tian Xu.

The Gilbert + Tobin team advising Ansell was led by co-head of M&A/corporate advisory Neil Pathak and partner Ben Macdonald, with support from partner Alex Kauye, special counsel Albert Yuen and lawyers Andrew Chan and Bridget Sutton. 

Deal significance: A Chinese consortium comprised of Humanwell Healthcare and CITIC Capital has acquired Ansell’s sexual wellness business.

The sexual wellness arm of ASX-listed Ansell manufactures condoms, lubricants and other sexual products, selling them under brands such as SKYN, LifeStyles, Zero, Manix, Blowtex and Jissbon.

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Ansell chief executive Magnus Nicolin told Fairfax last year that the different target market of the sexual wellness business meant it did not fit well with the company’s other protective clothing offerings.

KWM acted as global counsel for the consortium, which involved the incorporation and purchase of companies in China, Singapore, Thailand, India, Australia, the UK, the US and Poland, according to a statement from the firm.

The transaction also involved the transfer of intellectual property, employees, medical registrations and assets from all over the world into various acquisition vehicles.

Asian investment bank Nomura acted as buy side financial adviser. KWM lead partner David Friedlander said the firm worked effectively with Nomura on the acquisition.

“This deal showcased the power of the firm to work alongside Nomura to manage and deliver a difficult global transaction involving significant amounts of global intellectual property in a highly regulated industry,” Mr Friedlander said.

“We are grateful for the opportunity of supporting Humanwell and CITIC Capital, and we look forward to continuing to support them with this and future transactions.”

Gilbert + Tobin co-head of M&A/corporate advisory Neil Pathak said it was a complex deal. 

“This was a complex global transaction in a highly regulated industry involving iconic brands,” he said.

“We are pleased to have been able to apply our deep experience and expertise in large-scale and cross border M&A transactions to help Ansell achieve a successful outcome.”