Deacons’ corporate partners Derek La Ferla and Shaun McRobert have acted for national crane lifting solutions company BOOM Logistics Limited on its successful $27 million IPO.
The prospectus is one of the largest initial public offerings from Perth in the past three years.
Under the IPO, 33.75 million shares were offered to the public at an issue price of $0.80 per share. The offer, totalling $27 million, comprises a mix of new shares (26.25 million shares) and a sell-down of existing shares by current shareholders (7.5 million shares).
The company will use proceeds of the issue to part fund the acquisition of five established businesses in Victoria, Western Australia, New South Wales and Queensland. Following these acquisitions, BOOM will operate from businesses in NSW, WA, Victoria, Queensland and offshore at petro-chemical facilities in the Bass Strait, employing more than 360 staff.