Cerberus acquires Axsesstoday in second Australian M&A transaction
Allens has advised Cerberus on the acquisition of Axsesstoday.
Firm: Allens (Cerberus Capital Management)
Deal: Allens has advised Cerberus Capital Management, LP and its affiliates on the acquisition of certain subsidiaries of Axsesstoday Limited.
Key players: The Allens team was led by partners Tom Story, Chris Prestwich, Peter Haig and Benjamin Downie. The team was supported by managing associate Noah Obradovic, senior associates Chris Travers, Andrew Shetliffe and Zac Kedgley-Foot, as well as associates Natasha Ng and Ryan Jameson.
Lawyers Andrew Mon, Aaron Wong and Ellen Trevanion also assisted, as did law graduate Mona Abu Zalaf.
Deal significance: Allens advised on all aspects of the acquisition, calling on expertise in corporate/private equity, restructuring and insolvency, disputes and investigations, banking and finance and employment.
The partnership between Cerberus and the Axsesstoday team is the second Cerberus acquisition in Australia. In 2018, it acquired Bluestone Group’s Australasian mortgage lending and portfolio servicing operations, which Allens also advised on.
Mr Story said: “Cerberus’ acquisition of SME equipment finance lender, Axsesstoday, is its second successful acquisition in Australia. We were delighted to work with Cerberus again, having previously advised on its acquisition of Bluestone Group’s mortgages business last year.”