Lead partner Mike Barker said the use of the funds in this deal differentiates it from other recent capital raisings.

"During the GFC, capital raisings were primarily geared towards repairing balance sheets, but in recent times, acquisition related raisings have occurred. Bradken's capital raising was intended to fund upcoming significant capital expenditure projects, but also to give Bradken flexibility to pursue other value enhancing acquisitions and growth opportunities as they arise - a hybrid use against a backdrop of institutional investors typically requiring acquisition related funding to be target specific," he said.

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"The success of the capital raising reflects Bradken's senior management team's ability to use funds raised successfully on both acquisitions and other growth initiatives."

Barker was supported by senior associate Matt Coull and solicitor Esther Touma.