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MGH completes $105m equity raise
Australian construction materials, equipment and services provider Maas Group has completed a $105 million equity raise to futureproof its business.
Lauren Croft
Firm: Maddocks (Maas Group Holdings)
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Deal: Maddocks has advised Maas Group Holdings Limited (MGH) on a new $105 million equity raising to fund future growth of the business and new acquisitions.
Value: $105 million
Area: Capital markets
Key players: The Maddocks team was led by capital markets partner Catherine Merity and special counsel Rosamond Sayer.
Deal significance: The deal involves an institutional placement of $35 million and a founder and management placement of $70 million, with proceeds going towards, in part, three near-term acquisition opportunities in the construction materials sector. MGH will also offer a non-underwritten share purchase plan to eligible Australian and New Zealand shareholders to raise up to $10 million.
MA Moelis Australia Advisory and Morgans Corporate were joint lead managers to the institutional placement.
Commenting on the latest equity raising matter, Ms Merity said: “We were pleased to once again assist Maas Group with its institutional placement that will provide enough flexibility and scope to complete its future potential acquisitions and deliver on its growth strategy.”
