Sale of Minnovare to Viburnum Funds and Jolimont Global
Deal TypeCapital Markets
The BDO Corpordate Finance team provided exclusive sell side advisory support to the shareholders of Minnovare. The solution included a partial exit and both a capital raising and debt instrument. The funding would facilitate the expansion of the Minnovare footprint internationally. This included the marketing of their specialized Azimuth Aligner technology to mining companies and drilling contractors globally.
Minnovare co-founders Callum McCracken and Mick Beliby sought help from our M&A team to advise on capital raising options and help secure funding from Jolimont Global Mining Systems (Jolimont Global), a private equity group that invests in high growth mining equipment, technology and services companies, and Viburnum Funds, an Australasian-focused mid-market private equity investment manager with extensive experience in mining and oilfield services investment.
BDO’s role included:
- Providing advice on commercial and financial structuring issues
- Preparation of Information Memorandum and Financial Model
- Preparing a list of potential acquirers
- Contacting and chairing meetings with potential acquirers
- Leading pricing and structuring negotiations
- Managing the due diligence process
- Project managing the legal teams for the completion of the sale and purchase agreement
- General support of other matters required to complete the transaction.