Thomson Geer’s Adelaide M&A team have advised newly-established Australian mid-market private equity firm, Adexum Capital, on its successful AU$50m capital raising. Funds raised will be used to complete two investments in Australia and New Zealand over the next 12 months in the lead up to listing on the Australian Stock Exchange.
Adexum is planning a AU$250m Initial Public Offering which will allow the firm to provide a permanent base of capital and expand its portfolio to another six to eight investments. It is expected that investor interest in the IPO will mostly come from self-managed super funds (SMSFs) and retail investors. Once the IPO has completed, Adexum will become the first listed mid-market private equity firm in Australia.
Adexum are also looking for potential acquisitions and are currently considering targets across a number of key sectors including engineering, retail, technology and cloud hosting sectors, whilst ruling out investments in the agriculture, mining and property sectors.