Pacific Infrastructure acquires Sargon in strategic move
Hall & Wilcox had acted for Pacific Infrastructure Partners in its acquisition of Sargon Capital assets.
Firms: Hall & Wilcox (Pacific Infrastructure)
Other firms advising on the matter were Quinn Emanuel – regulator engagement, insolvency; Clifford Chance – corporate M&A.
Gilbert & Tobin – acted for the administrators of Sargon Group.
Deal: Independent business law firm Hall & Wilcox was engaged by Quinn Emanuel and Clifford Chance to advise Pacific Infrastructure Partners on its acquisition of key operating entities and assets of the Sargon Capital group of companies.
Key players: The deal team comprised of superannuation partners Heather Gray and Adrian Verdnik and lawyers Grace Mitsioulis, Charlie Renney and Greg Patton.
The transaction was expedited, with a number of legal advisers working collaboratively to preserve regulatory licences.
Deal significance: Pacific Infrastructure Partners is a new entity formed for the purpose of investing in technology-enabled financial services.
Its shareholders include Cloverhill Group LLC, Kibble Holdings LLC (including KH Investment Trust), and Vista Credit Partners (VCP), who also provided financing for the transaction.
VCP is a strategic credit investor and financing partner offering a variety of capital solutions to the enterprise software, data and technology market. VCP is the credit-lending arm of Vista Equity Partners, a leading global technology investor.
The Hall & Wilcox team conducted due diligence on the three superannuation licensees, CCSL Limited, Diversa Trustees Limited and Tidswell Financial Services Limited.
The firm also acted as superannuation advisers to Quinn Emanuel, working with Pacific Infrastructure Partners to gain approval from the Australian Prudential Regulation Authority (APRA) for the change of control of the registrable superannuation entity (RSE) licensees.