AMA Group secures Capital S.M.A.R.T from Suncorp

By Naomi Neilson|12 November 2019

G+T has assisted AMA Group in acquiring Suncorp’s crash repair business.

Firm: Gilbert + Tobin (AMA Group Limited)

Deal: Gilbert + Tobin (G+T) advised AMA Group Limited (AMA) in acquiring Suncorp’s Capital S.M.A.R.T Repairs Australia Pty Ltd crash repair business.

Value: $420 million.

Area: M&A.

Key players: The team was led by head of G+T’s banking and infrastructure team John Schembri, with support from special counsel Spiro Papadolias and lawyers Corrie Eames and Felix Buddee.

Deal significance: The acquisition was accompanied by a $216 million capital raising and includes a long-term strategic service agreement of 25 years under which Capital S.M.A.R.T remains Suncorp’s recommended repairer.

G+T also assisted AMA on its $20 million concurrent acquisition of 100 per cent of Suncorp’s ACM Parts Pty Ltd automotive parts supplier.

Mr Schembri said: “We were delighted to have assisted AMA [in] this milestone transaction. This new facility will provide AMA with a tailored and flexible financing package to help secure its strategic objectives going forward.”

This email address is being protected from spambots. You need JavaScript enabled to view it.

AMA Group secures Capital S.M.A.R.T from Suncorp
Intro image
lawyersweekly logo
Big Law

latest

Which firms believe in climate change and take meaningful action?

‘Instantaneous communication’ not grounds to ignore opponent’s consent, Qld tribunal says to guilty solicitor

Sympli completes first financial settlement

Brewery giant advised on acquisition of craft beer business