Login
Powered by
MOMENTUM
MEDIA
Powered by MOMENTUM MEDIA
Kelly & Co has advised Codan on its recent acquisition of the Canadian designer, manufacturer and supplier of land mobile radio communications solutions Daniels Electronics.
Firms: Kelly & Co (Codan)
Area: M&A
Value: An upfront cost of C$25 million, with up to another C$2 million payable over the next 18 months, subject to Daniels Electronics meeting certain earn-out targets
Key players: The Kelly & Co. M&A team was led by Jamie Restas (partner, pictured) with assistance from Kate McKeough (partner) and Cam Steele (solicitor). Luke Dale (partner) and Daniel Kiley (solicitor) assisted with the IP aspects of the due diligence. Restas and Nick Karagiannis (partner) led the institutional placement and associated share purchase plan
Deal significance: The acquisition is scheduled for completion on 17 August 2012 subject to a number of conditions typical for transactions of this nature. Funding for the acquisition will consist of a mix of debt and equity. Kelly & Co also advised Codan in relation to the related capital raising of up to $17.5 million by way of an institutional placement to raise up to $12.5 million and a subsequent share purchase plan to raise up to an additional $5 million.
Get breaking news
Digital
