Gilbert + Tobin advised the Peter Warren Automotive Group on its successful initial public offering and listing on the ASX.
Peter Warren is a group of automotive dealerships founded in 1958, operating 17 dealerships across Sydney, Northern New South Wales and Southern Queensland. It sells up to 30,000 new and used cars a year.
Peter Warren raised $260 million giving the company a market capitalization of $483 million and an enterprise value of approx. $460 million making it the equal largest IPO so far this year.
Corporate Advisory partner Rachael Bassil led the G+T team, which included Corporate Advisory lawyers Olivia Blakiston, Shananne Joyce, Callum Hinwood, Michelle Lee, Matt Coe, Kevin Zhou, Kim Nguyen and Mason Cohen. Real Estate + Property partner Amanda Hempel, special counsel Jo Bayes and lawyer Neville Mirza assisted on the property aspects of the transaction, with Technology + Digital partner Tim Gole and lawyer Meaghan Powell advising on the shared services arrangements.
Rachael Bassil said “It was a pleasure advising Peter Warren on this transaction. The IPO brings to market the family businesses founded by the Warrens and Frizelles with Quadrant’s backing. It’s great to see the businesses with such a strong history and culture supported by public market investors. We look forward to watching Peter Warren continue to grow and succeed as an ASX listed company”.
Gilbert + Tobin’s market-leading Corporate Advisory team, which includes leading capital markets lawyers, has advised the issuers on the recent IPOs of Adore Beauty, Universal Store, CleanSpace and Cashrewards. Gilbert + Tobin is ranked Band 1 in ECM by Chambers Asia Pacific 2021.