Deal: Multinational law firm Pinsent Masons has advised the founders of EmpatKali, Jamie Camidge and Hadi Tanzil, on the sale of the company to Afterpay. 

Area: M&A.

Key players: The Pinsent Masons team acting on the transaction was led by partner Brian Scott and includes senior associate Lucy Carter, lawyer Ananya Mittra and graduate lawyer Abigail Gedge. 

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Financial advisory services were provided by Stephen Davies from Devo Consigliare Pty Ltd.

Deal significance:  Afterpay, the leading buy now, pay later service provider in Australia, will acquire Singapore-based business EmpatKali, a payment solutions provider operating in Indonesia. The transaction involves the sale of the company led by its founders together with minority shareholders. 

“It’s been a pleasure to help our clients’ business into the [fast-growing] Afterpay family, where plans for further growth and investment can be fully realised. I lived and worked in Jakarta for eight years and it was fantastic at this time, albeit virtually, to connect with an ambitious business there,” Mr Scott added.

“The Pinsent Masons team brings together a strong understanding of the start-up environment, a notable tech focus for the region’s vibrant digital economies and a very strong bench of deal experience in Southeast Asia.”

As Afterpay indicated in its FY20 results announcement, the acquisition is a first step in exploring further opportunities in select Asian markets. 

“The Pinsent Masons team (Singapore and Australia), in partnership with Stephen Davies (adviser), did an incredible job representing the founders through the Afterpay acquisition,” Mr Camidge said on the successful execution of the deal. 

“We couldn’t have asked for a more professional and responsive group to represent our interest and that of our shareholders to get this deal across the line.”