Allens has advised Keppel Infrastructure Trust (KIT) on its acquisition of leading chemicals business Ixom for an enterprise value of $1.1 billion.
The acquisition, from Blackstone managed funds and management shareholders, represents a significant addition to KIT's portfolio and a further investment by KIT in solutions for sustainable urbanisation.
Ixom manufactures and distributes water treatment chemicals and industrial and specialty chemicals, and is one of the largest bulk and packaged chemical distribution businesses in Australia and New Zealand. Its products are fundamental components in a number of industries, including water treatment, dairy, agriculture, mining, construction and nickel refining.
The multidisciplinary team of advisers from Allens spanned the firm's M&A, environment, property, employment, competition, banking and finance and insurance teams.
'We are delighted to have advised KIT on this landmark transaction. It represents a significant strategic investment for KIT in a leading industrial infrastructure business,' said Partner Jessica Choong.
'The infrastructure-like nature of Ixom's business aligns with KIT's focus on infrastructure assets located in developed jurisdictions. The acquisition is indicative of continuing interest by foreign investors in Australian assets which provide a platform for stable long-term growth.'
Allens previously advised CitySpring Infrastructure Trust (which merged with Keppel Infrastructure Trust in 2015) on its acquisition and financing of the Basslink Interconnector in 2007.
Allens legal team
Mergers & Acquisitions: Jessica Choong (Partner), Tom Story (Partner), Wendy Rae (Partner), Tracey Davern (Senior Associate), James Nguyen (Senior Associate), Tina Tran (Lawyer), Miles Ma (Lawyer), Mark Young (Lawyer)
Environment: Jillian Button (Partner), Eve Lynch (Partner), Naomi Bergman (Managing Associate), Emily Johnstone (Senior Associate), Kate Kellaher (Senior Associate), Isabella Kelly (Associate), Connie Ye (Lawyer), Zainab Mahmood (Lawyer), Laura McNama (Lawyer)
Property: Michael Graves (Partner), Tim Chislett (Managing Associate), George Klonis (Associate)
Employment: Sikeli Ratu (Managing Associate)
Competition: Ted Hill (Partner), Darcy McLennan (Associate)
Banking & Finance: Michael Ryan (Partner), Alex Tonkin (Senior Overseas Practitioner), Keenan Chiu (Lawyer)
Insurance: Jonathan Light (Managing Associate), Andrew Lazzaro (Senior Associate), Harry Cook (Associate)
Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.