MinterEllison cracked over a century of deals in 2021, with a total of 106 completed deals according to MergerMarket and 109 announced deals according to Refinitiv. The firm ranked second in deal numbers in both League Tables.
MinterEllison also ranked first on both deal volume and deal value in the Refinitiv Mid-Market League Tables (for deals up to U$500 million) and seventh in the Asia Pacific League Tables.
This is a record-breaking result for the firm, in a year fraught with complexity and uncertainty.
"Despite closed borders, ongoing lockdowns and global economic uncertainty, 2021 saw a boom in M&A activity across the globe. We're proud to be supporting our clients through these challenges to achieve such excellent outcomes – over a century of deals – in a relatively novel operating environment," said Con Boulougouris, MinterEllison's co-lead of M&A.
"With Australia's borders reopening, supply chain challenges and relatively easy access to debt, we predict similarly high levels of activity into 2022," said Joseph Pace, MinterEllison's co-lead of M&A.
"We're seeing a lot of interest and deal activity in the infrastructure, real estate, technology, financial services, consumables and the resources sectors. 2021 saw investment dominated by local companies, pension funds and international private equity firms. Over the next 12 months we expect an increasing number of overseas-based investors in the mix," he added.
MinterEllison's M&A team advised on a number of complex deals in 2021, covering a broad range of industry sectors:
- The A$1.3 billion sale of ME Bank to Bank of Queensland by Cbus, Hesta and Hostplus
- The A$620 million acquisition of the Travelodge hotel portfolio by Salter Brothers – the largest ever hotel portfolio transacted in the Australian market
- Global Forest Partners' A$700 million sale of Green Triangle Forestry Products plantation and forestry management business – the largest forestry transaction in the Australian market in the past decade.
- JBS' A$425 million acquisition, by scheme of arrangement, of listed seafood operator Huon Aquaculture
- Centerbridge's recapitalisation of Boart Longyear. The transaction was one of the largest and most complex restructures of its kind, involving a US$830 million debt for equity swap conversion
- Hub24's A$411 million acquisition of Class Limited
- CUA's strategic sale of its health insurance business to HBF
- Amplifon's A$550 million acquisition of the Bay Audio hearing business
- Greenlit Brands' strategic divestment of the specialist Australian sofa retailer, Plush Think-Sofas, to ASX-listed Nick Scali.