Allens advises AUB Group on $200m equity raising and acquisition of Pacific Indemnity

Capital Markets Mergers & Acquisitions

Allens has advised AUB Group Limited (ASX: AUB) on its $200 million equity raising and proposed acquisition of Pacific Indemnity Underwriting Solutions, a leading specialty underwriting agency based in Australia which specialises in professional indemnity, D&O and general liability insurance products.

The acquisition will see AUB acquire a 70% equity stake in Pacific Indemnity Underwriting Solutions.

AUB has also undertaken a fully underwritten $200 million equity raising to fund the upfront consideration for the acquisition and to provide balance sheet flexibility to support AUB's ability to capitalise on its continued M&A pipeline. The raising attracted very strong demand from both existing shareholders and new investors.

The proposed acquisition continues AUB's strategy to invest in underwriting agencies and build out a portfolio of agencies offering risk products relevant to AUB's clients and their insurance needs.

Allens advised AUB on all aspects of the equity raising and acquisition.

'We are delighted to have worked once more with Richard Bell and the AUB Group team, together with Pacific Indemnity Solutions and its advisors, on another highly complementary acquisition for AUB, continuing its strategy to invest in underwriting agencies,' said Partner Adrian Amer.

'Our team worked seamlessly across both M&A and ECM to support AUB with both the $200 million equity raising  and the proposed acquisition.'

Allens legal team

Corporate - M&A

Adrian Amer (Co-Lead Partner), Vijay Cugati (Co-lead Partner), Sassica Hoolahan (Senior Associate), Katherine Tsatsaklas (Senior Associate), William Brown (Associate), Julian Kesov (Lawyer), Liam Webb (Lawyer), Renee Preketes (Law Graduate)

Corporate - ECM

Adrian Amer (Co-Lead Partner), Vijay Cugati (Co-lead Partner), Michael Burrell (Senior Associate), Chiara Biviano (Lawyer)

Corporate - Regulatory

Simun Soljo (Partner), Virginia Wang (Associate)

Corporate - TMT

Jessica Mottau (Partner), Alexandra Martin (Senior Overseas Practitioner), Emiliana Gallego (Associate)

Intellectual Property

Joel Barrett (Partner), Bryanna Workman (Associate)