21st December 2021
Walker Morris LLP advised Audax Private Equity on the $736 million sale of identity verification and KYC/AML compliance provider, Acuant, Inc., to UK Main Market-listed GB Group Plc.
The transaction was financed by GBG through a £300 million cash box placing and £5 million retail offer and drawdown by GBG against a new credit facility. In addition, new GBG ordinary shares were issued to Audax and certain of the Acuant vendors who rolled over approximately 19% and approximately 28% of their respective holdings in Acuant into the enlarged GBG group.
Daniel O’Gorman (corporate), Philip Scott (debt finance), Jo Stephenson (corporate) and Evelyn Lewzey (corporate) led the Walker Morris team. US counsel to Audax was Kirkland & Ellis. GBG was advised by Squire Patton Boggs.
Corporate and Head of International