Deal: IMDEX Limited has been advised on an equity raising to fund the proposed acquisition of Devico AS.

Value: $224 million

Area: Corporate advisory

Key players: The Gilbert + Tobin team was led by corporate advisory partners Sarah Turner and Simon Rear.

The pair were supported by lawyers Kevin Zhou, Janelle Sputore, Ryan Gava, Angus Stewart and Maree Casey.

Deal significance: IMDEX was founded in 1980 and is described as a leading global mining technology company that enables drilling contractors and resource companies to safely find, define and mine orebodies with precision and at speed.

According to a statement from Gilbert + Tobin, IMDEX intends to raise up to $224 million via an underwritten institutional placement, a one for six accelerated non-renounceable entitlement offer and a non-underwritten conditional placement to partly fund the proposed acquisition of Devico AS.

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Speaking of the equity raise, lead partners Sarah Turner and Simon Rear said: “It has been a pleasure advising the great team at IMDEX on this equity raising to fund the Devico acquisition.

“The funding and the acquisition will give IMDEX a much larger global footprint allowing IMDEX to grow its already successful business.”