Squire Patton Boggs has advised Animalcare Group plc (“Animalcare”) on its conditional acquisition of the Randlab Group ("Randlab") for an enterprise value of A$120.0 million and on Animalcare’s proposed placing to raise approximately £20 million.
Randlab is an Australian headquartered, privately owned, leading equine veterinary business with an extensive portfolio of equine brands servicing primarily the Australian and New Zealand markets.
This conditional acquisition represents a transformational acquisition for Animalcare and an opportunity which will significantly strengthen Animalcare’s presence in the equine market. Moreover, this conditional acquisition enables Animalcare to expand their geographical footprint from the UK and Europe into Australia and New Zealand.
The cross-border transaction was delivered by members of the Squire Patton Boggs Corporate team in both the UK and Australia. The Sydney Corporate team, led by Michael Gajic, Ashley Rose, Louisa Hine, Sarah Roper and Georgia Mateer, advised Animalcare on the conditional acquisition of Randlab. The UK Corporate team, led by Hannah Kendrick, Ben Morgan, Chris Blair and Grace Walker, advised Animalcare on its proposed placing to raise approximately £20 million. Pitcher Partners team, led by Vinod Parasuraman and Paul Marino advised Animalcare on the financial and tax aspects of the acquisition.
Hannah Kendrick commented “It has been great to work with both the Animalcare team and our Squire Patton Boggs colleagues to deliver this significant cross-border acquisition and fundraise. We look forward to continuing to support Animalcare’s investment in the Australian market.”