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Lawyers at home with Adairs IPO

Lawyers at home with Adairs IPO

Richard Loveridge

Herbert Smith Freehills and Allens advised on homeware retailer Adairs’ $220 million initial public offering.

Firms: Herbert Smith Freehills (Adairs Limited); Allens Linklaters (joint lead managers: Goldman Sachs Australia and UBS, AG, Australia Branch)

Deal: Adairs’ IPO and listing on the ASX on 17 June 2015.

Value: $220 million

Area: ECM

Key players: Melbourne-based corporate partner Richard Loveridge (pictured) led for HSF. Mr Loveridge was supported by senior associate Cecilia Mehl and solicitors Lauren Faba and Andrew Earle, as well as other specialists, including head office advisory experts Stefanie Wilkinson and Amy Henderson and banking experts Emma de Carle and Charlotte Alexander.

Allens Linklaters acted for the joint lead managers.

Deal significance: Adairs is a retailer of homewares and home furnishings in Australia that operates 131 stores Australia-wide. Before the IPO, HSF advised Adairs on its corporate restructure and refinancing of its banking facilities.

Adairs expects $20.7 million pro forma net profit after tax in the 2015 financial year, increasing to $24.4 million in 2015/2016.

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