Kelsian Group acquires All Aboard America!, undertakes cap raise
Listed transport services company Kelsian Group Limited has been advised on its acquisition of US-owned transport solutions platform All Aboard America! Holdings, as well as an associated capital raising.
Firm: Kain Lawyers (Australian legal adviser to Kelsian Group Limited on the acquisition and equity raising); White & Case LLP (US legal adviser to Kelsian Group Limited on the acquisition); Piper Alderman (Australian legal adviser to Kelsian Group Limited on the debt financing, alongside Gresham Partners)
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Deal: Kelsian Group Limited (ASX: KLS) has acquired All Aboard America! Holdings for $487 million (US$325 million) and also completed an associated $281 million capital raising by way of accelerated non-renounceable entitlement offer and placement.
Area: Transport; capital markets; merger and acquisition
Value: $487 million for the acquisition, $281 million for the capital raise.
Key players: The Kain Lawyers team was co-led by James Burchnall and Alyce Ricciardi with support from Travis Cordingley, Navar Amici and Nicholas Cardone.
Deal significance: This transaction, Kain said in a statement, “marks Kelsian Group Limited’s entry into the US market through an established operator, and further diversifies Kelsian Group Limited’s multi-modal operations across four countries”.
In a market announcement, Kelsian chief executive Clint Feuerherdt said: “We are thrilled to bring AAAHI into Kelsian’s global platform.
“AAAHI has an excellent reputation and a track record of delivering high-quality contract and charter services.
“The combination of Kelsian’s expertise, and AAAHI’s reputation and scale, provides a solid foundation for our entry into the USA market, where we anticipate strong macro tailwinds.”
In a LinkedIn post, Piper Alderman wrote: “It was a pleasure to work alongside the Gresham Partners team to support Kelsian Group Limited as debt advisers on the $487 million transaction.”