Firm: HWL Ebsworth Lawyers (Shelston IP/ Xenith IP Group)
Deal: Shelston IP is listing on ASX as Xenith IP Group Limited (XIP).
Key players: Sydney partner Grant Hummel (pictured) led the IPO team.
Deal significance: XIP is only the second specialist IP services practice to list on ASX.
The deal also involved a restructure to corporatize the existing Shelston IP partnerships, a new $10 million debt facility with ANZ and new remuneration and incentive arrangements for all the partners and senior employees.
Shelston IP and Shelston IP Lawyers are patent attorneys, trademark attorneys and intellectual property lawyers.
"There are only a few listed Australian law firms, so to be instructed as corporate lawyers by another law firm seeking a stock market listing is testament to our firm's growing capabilities,” said Jamie Restas, national group head of the commercial and corporate team at HWL Ebsworth.
“With the recent changes of law, we anticipate other professional service firms may consider an ASX listing in the short to medium term."
XIP’s proposed listing date is 20 November.