Firms: Herbert Smith Freehills (Aconex Limited); Baker & McKenzie (joint lead managers)
Deal: Aconex Limited IPO
Value: $312.5 million
Key Players: HSF’s team was led by Michael Ziegelaar (pictured), co-head of HSF’s equity capital markets team. Senior associate Nick Golding and solicitor Lauren Faba assisted Ziegelaar, with a range of other lawyers also involved, including partner Simon Haddy and senior associate Stefanie Wilkinson.
Aconex general counsel and company secretary James Cook paid tribute to the HSF team: “We chose Herbert Smith Freehills for their outstanding IPO credentials in Australia. Even though our legal team is based in San Francisco, the Herbert Smith Freehills team was always available and delivered seamless service throughout the transaction,” he said.
Bakers advised Macquarie Capital (Australia) Limited and UBS AG, Australia Branch, the joint lead managers on the IPO
Deal Significance: Aconex Limited is a Melbourne-based computer software company which has a range of clients from the construction and energy and resources sectors. It has expanded into Asia, North America and Europe and has 420 employees in 21 countries. In the 2014 financial year, the company increased turnover from 2013’s $52.3 million to $66.2 million. Despite that increase in revenue in 2014, the company recorded a loss before interest, income tax, depreciation and amortisation of all intangibles of $3.2 million. That was an improvement on the 2013 financial year figure of $8.9 million.