Baker & McKenzie has acted for global leader in protection solutions, Ansell Limited, on the equity capital raising for its USD615 million acquisition of BarrierSafe Solutions International.

The acquisition will be funded by a fully underwritten private placement to raise USD338 million, a share purchase plan for Australian and New Zealand shareholders capped at USD100 million, and a committed debt facility of USD300 million.

The Baker & McKenzie team is being led by partners Richard Lustig, Andrew Reilly and Adrian Chin, senior associate Rick Troiano and general associate Peter Moh.

Lustig said, “We are very pleased to assist Ansell with the capital raising supporting this acquisition. The deal will enable our client to expand its personal protective equipment market reach in the United States.”

With a registered office in Melbourne, Ansell is a global leader in healthcare safety and protective solutions.

BarrierSafe Solutions International is a leading North American provider of single use gloves. Its brands include Microflex and Onguard.

The acquisition is subject to US antitrust clearance and is expected to complete in early 2014.