King & Wood Mallesons and SJ Berwin advise IRESS on acquisition of Avelo FS Holdings

Less than one week after announcing their merger, King & Wood Mallesons and SJ Berwin are joining forces to advise ASX-listed IRESS on its acquisition of Avelo FS Holdings, a provider of financial services technology in the UK.

The acquisition, valued at £210m, will be funded by a combination of existing cash holdings, new debt and a $206m fully underwritten pro-rata accelerated renounceable entitlement offer.

The King & Wood Mallesons team, led by partner Joe Muraca, advised on the Australian aspects of the acquisition, structuring the debt package and the fundraising out of Australia. Through the firm’s new combination with SJ Berwin, IRESS was provided with access to a European team of experts to execute the acquisition.

Muraca led a team, including senior associates Nick Harrison and David Bryant and solicitors Jack Hill and Rebecca Koh, from the corporate/mergers and acquisitions practice and partner Ian Solomon, senior associate Charlie Detmold and solicitor Andrew Vincent from the banking and finance team.

The SJ Berwin deal team was led by corporate partners Mark Sanders and Andrew Wingfield and senior associate Liam Arthur, with support from financial services partner Tim Dolan and technology specialist Sarah Nicholls.