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MGH completes $105m equity raise
Australian construction materials, equipment and services provider Maas Group has completed a $105 million equity raise to futureproof its business.
Lauren Croft
Firm: Maddocks (Maas Group Holdings)
Value: $105 million
Area: Capital markets
Key players: The Maddocks team was led by capital markets partner Catherine Merity and special counsel Rosamond Sayer.
Deal significance: The deal involves an institutional placement of $35 million and a founder and management placement of $70 million, with proceeds going towards, in part, three near-term acquisition opportunities in the construction materials sector. MGH will also offer a non-underwritten share purchase plan to eligible Australian and New Zealand shareholders to raise up to $10 million.
MA Moelis Australia Advisory and Morgans Corporate were joint lead managers to the institutional placement.
Commenting on the latest equity raising matter, Ms Merity said: “We were pleased to once again assist Maas Group with its institutional placement that will provide enough flexibility and scope to complete its future potential acquisitions and deliver on its growth strategy.”
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
