find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
B&M advises on MSA IPO

B&M advises on MSA IPO

Baker & McKenzie acted for McMillan Shakespeare on its IPO, which raised $10.5 million.Australia’s largest provider of salary packaging administration services and fleet solutions, McMillan…

Baker & McKenzie acted for McMillan Shakespeare on its IPO, which raised $10.5 million.

Australia’s largest provider of salary packaging administration services and fleet solutions, McMillan Shakespeare’s stock was offered at 50 cents and debuted on the ASX at 70 cents, closing at 74 cents on its first day.

The company has a current market capitalisation of $50 million. McMillan Shakespeare Australia (MSA) was bought from Zurich Australia Ltd last month by a syndicate incorporated as McMillan Shakespeare. The syndicate included MSA management and employees as well as private investors. They floated the company within a week of the completion of the acquisition.

Bakers’ lead partner in the deal, Hamish Walton, said: “This has been a dynamic and exciting deal to be involved with. Because the acquisition was financed via three different sources — a bank, private equity and the float — we wanted the IPO to be really successful. I don’t think we could have hoped for a better result.”

At the announcement of the acquisition on 10 March, Anthony Podesta, MSA’s founder and now managing director of McMillan Shakespeare, said he was proud the organisation was again a wholly Australian-owned company.

“A significant number of our workforce has subscribed for shares in the IPO, which is indicative of the support and backing for the acquisition from the entire MSA team,” Podesta said.

McMillan Shakespeare has invested more than $5 million in a new proprietary IT system to improve customer service and processing efficiencies in anticipation of having to handle increased demand for its services.

As well as Walton, the Bakers team included partner Simon Lynch and lawyers Chris Chambers and Tim Best.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

B&M advises on MSA IPO
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...