Chapman Tripp advised Pacific Radiology Group Limited (PRG) on all aspects of its strategic sale of a $313m stake to investment company Infratil Limited, creating a platform for PRG to accelerate growth. The transaction closed on 31 May.
Pacific Radiology doctors will continue to own the balance of the $867m business.
The Chapman Tripp team comprised partners Bradley Kidd, Emma Sutcliffe, senior legal advisor Tracy Tomsett and solicitor Tory Hansen, with support from partners Tim Tubman and Marie Wisker, and a range of specialists across the firm. Kidd says:
We are pleased to have acted on this transaction between two high profile New Zealand companies, which will bring significant advantages to both parties and will also benefit the public by enhancing PRG’s growth potential. It was a privilege to work closely with the PRG board, management team and shareholders, as well as PRG’s financial adviser Allier Capital, on this transformational transaction.
“Chapman Tripp and Brad have been PRG’s trusted advisors for a number of years. It’s been great to work with Brad and his team as we’ve moved through this sale process, which is the culmination of several years of corporatisation and business improvement with Chapman Tripp’s guidance and advice along the way. Our deal with Infratil Limited went like clockwork, in no small part due to the consummate skill and professionalism of Brad and his Chapman Tripp team.” Terry McLaughlin, PRG’s CEO said.