DLA Piper has advised Link Group on its initial public offering (IPO), the largest IPO of the year in Australia, with a market capitalisation of AU$2.3 billion as it listed on the ASX today, 27 October 2015.
Link Group is a market leading provider of technology-enabled administration solutions, with approximately 4,300 employees across 11 countries, supporting some of Australia's largest superannuation funds and the world's largest corporations.
DLA Piper's team was led by its Head of Private Equity, Grant Koch, who joined the firm in April this year, and Equity Capital Markets (ECM) specialist partner Catherine Merity. Grant acted for PEP on its initial AU$136 million acquisition of Link in 2005, and has worked closely with Link Group since that time, advising on more than 30 acquisitions, investments and disposals over the last 10 years as the business has grown to an Enterprise Value of AU$2.6 billion. Since joining DLA Piper, Grant has worked with colleagues across the global firm to advise Link Group on three M&A acquisitions, including acquisitions in New Zealand and Germany, and various ancillary matters in addition to acting on the IPO.
Grant Koch said: "We're delighted to have advised Link Group on what is the signature ECM transaction of 2015 in the Australian market. Today's listing on the ASX represents a significant milestone for Link Group, its management team, PEP, ICG and the group's other key stakeholders. It has been an incredible 10 year journey with Link Group and it has been an honour to support the Management team and PEP as they have grown Link Group into a global leader. The team at DLA Piper are very excited about Link Group's future and look forward to continuing to partner as it pursues further growth opportunities here and offshore, supported by DLA Piper's strong global team."
The core DLA Piper team on Link Group's IPO also comprised senior associates Tim Perry and Rosa Sayer, as well as lawyers Abhinav Yarrapotu and Rube Uthayakuma, and involved specialists across multiple practice groups including corporate, employment, banking and finance, property, IP/ IT, tax and litigation.
The transaction also involved DLA Piper offices in the UK, Germany, New Zealand, Hong Kong, China, Singapore, Canada, France, Italy, South Africa and the Middle East.
DLA Piper's finance team, led by partner Onno Bakker and senior associate Gary Segal, also advised Link Group on its AU$580 million IPO related refinancing.
Head of Corporate for Asia Pacific, Bryan Pointon, said: "Over the last 18 months our corporate team in particular has undergone a transformation. The Link Group IPO is a testament to the strength and capability of DLA Piper's corporate team and the firm's broader capability. It is also reflects a recognition by Link Group that, as its business continues to grow internationally, DLA Piper is a natural partner."
"Grant joined DLA Piper in April, and since that time we have welcomed five additional leading corporate partners to the team. Over the past two years we have added or promoted a total of 10 new corporate partners in Australia. We are focused on serving the firm's clients and the market's most complex demands in M&A, ECM and private equity and leveraging the talents and reach of the firm globally for the benefit of Australian businesses that cross borders."
