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Lawyers at home with Adairs IPO
Herbert Smith Freehills and Allens advised on homeware retailer Adairs’ $220 million initial public offering.
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Firms: Herbert Smith Freehills (Adairs Limited); Allens Linklaters (joint lead managers: Goldman Sachs Australia and UBS, AG, Australia Branch)
Value: $220 million
Area: ECM
Key players: Melbourne-based corporate partner Richard Loveridge (pictured) led for HSF. Mr Loveridge was supported by senior associate Cecilia Mehl and solicitors Lauren Faba and Andrew Earle, as well as other specialists, including head office advisory experts Stefanie Wilkinson and Amy Henderson and banking experts Emma de Carle and Charlotte Alexander.
Allens Linklaters acted for the joint lead managers.
Deal significance: Adairs is a retailer of homewares and home furnishings in Australia that operates 131 stores Australia-wide. Before the IPO, HSF advised Adairs on its corporate restructure and refinancing of its banking facilities.
Adairs expects $20.7 million pro forma net profit after tax in the 2015 financial year, increasing to $24.4 million in 2015/2016.
