Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised AZ Next Generation Advisory Limited (AZ NGA) on a A$240 million investment by private equity firm Oaktree Capital Management, Inc. (Oaktree).
Oaktree, a US-based private equity firm, has invested A$240 million into AZ NGA, a leading professional services group, to accelerate their expansion within the Australian financial services market. AZ NGA acquires minority and majority equity stakes in Australian financial advisory and accounting businesses. The investment will see AZ NGA enhance their position in the market and accelerate their acquisition and consolidation activity.
Led by partners Andrew Lumsden and Felicity Saxon and supported by partners Ben Emblin, Odette Gourley and Andrew Hewson, Corrs advised on all stages of the transaction with support from the firm’s corporate, intellectual property and banking and finance practices to successfully advise AZ NGA.
Commenting on the matter, Corrs lead partner Andrew Lumsden said: “We are pleased to advise AZ NGA on this significant transaction in our journey with AZ NGA over the last decade. It is an honour to have represented AZ NGA as lead counsel on 40+ M&A transactions. This transaction will be instrumental in AZ NGA's vision as the business growth and succession partner of choice for financial advisory and accounting firms across Australia.
“This investment highlights Corrs reputation as a leading advisor in financial services M&A and our team’s technical expertise in advising platform businesses on roll-up M&A and significant private equity investments.”
Andrew Symes, Chief Legal Officer & Company Secretary at AZ NGA said: “This transaction marks a major milestone in our strategic roadmap, and the Corrs team have been integral in not only getting us over the line but guiding us safely and efficiently through the numerous complexities of the deal.”