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.
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.”