Peter Warren makes ASX debut
National law firm Gilbert + Tobin has advised the Peter Warren Automotive Group on its successful initial public offering (IPO) and listing on the Australian Securities Exchange (ASX).
Firm: Gilbert + Tobin (Peter Warren Automotive Group).
Deal: Peter Warren Automotive Group has launched an IPO and listed on the ASX.
Value: The IPO raised $260 million, giving the company a market capitalisation of $483 million and an enterprise value of approximately $460 million.
Key players: Gilbert + Tobin corporate advisory partner Rachael Bassil led the legal team advising Peter Warren Automotive Group. The team included corporate advisory lawyers Olivia Blakiston, Shananne Joyce, Callum Hinwood, Michelle Lee, Matt Coe, Kevin Zhou, Kim Nguyen and Mason Cohen.
As per a statement from Gilbert + Tobin, real estate and property partner Amanda Hempel, special counsel Jo Bayes and lawyer Neville Mirza assisted in the property aspects of the transaction, with technology and digital partner Tim Gole and lawyer Meaghan Powell advising on the shared services arrangements.
Deal significance: Peter Warren is a group of automotive dealerships founded in 1958. It operates 17 dealerships across Sydney, Northern NSW and Southern Queensland and sells up to 30,000 new and used cars a year.
According to led partner mS Bassil, Peter Warren’s ASX debut represents the equal largest IPO so far this year.
“It was a pleasure advising Peter Warren on this transaction,” Ms Bassil said.
“The IPO brings to market the family businesses founded by the Warrens and Frizelles with Quadrant’s backing.
“It’s great to see the businesses with such a strong history and culture supported by public market investors. We look forward to watching Peter Warren continue to grow and succeed as an ASX listed company.”