Friday, 31 March saw the successful completion of the $686m three-way merger of Andy’s Earthmovers (Andy’s) and Orionstone Holdings with Emeco Holdings.
Madgwicks acted for Andy’s and Andy’s shareholders in conjunction with lead advisor Lisa Wills of Fortem Group in the merger, which now positions the combined company as a world leading solutions provider in the mining and engineering industry.
Madgwicks’ involvement included advising on the restructuring and merger documentation and associated arrangements including share sales, scheme approval, debt restructure, statutory and regulatory compliance and a commercially rewarding outcome was achieved on behalf of its clients.
The $686m three-way merger included a complex creditors’ scheme of arrangement of Emeco Holdings’ noteholders, debt restructure of the merger partners’ financiers and equity exchanges between the merger partners in what was a multi-jurisdictional transaction.
“The successful conclusion of this multi-faceted deal has resulted in a significant and highly rewarding outcome for our client. With so many parties and representative firms and advisors from across the globe involved in the six-month project, our aim from the start was to protect the interests of Andy’s and its shareholders, without compromising the commercial outcome,” said Madgwicks’ Lead Partner, John Caridakis.
“In a sizeable transaction such as this, we take enormous pride in knowing that our strong and strategic representation of Andy’s and its shareholders in this deal provided our client with an excellent outcome.”