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Bakers right fit for Ansell

Baker & McKenzie is acting for Ansell on a capital raising as the company gears up for an international acquisition.

user icon Digital 29 November 2013 Big Law
Bakers right fit for Ansell
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Firms: Baker & McKenzie

Deal: Equity raising to fund a $US615 million acquisition of BarrierSafe Solutions International

Value: The acquisition will be funded by a fully underwritten private placement of $338 million, a share purchase plan for Australian and New Zealand shareholders capped at $100 million and a committed debt facility of US$300 million

Key players: The Bakers team was led by partners Richard Lustig (pictured), Andrew Reilly and Andrew Chin, with assistance from senior associate Rick Troiano and general associate Peter Moh

Deal significance: BarrierSafe Solutions is a leading North American provider of protective gloves and footwear. Ansell, a Melbourne based gloves and condom maker, is seeking to expand internationally, with this purchase following the recent acquisition of Korean and Brazilian companies.

“The deal will enable our client to expand its personal protective equipment market reach in the United States,” said Lustig, who is based in Melbourne.

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