Avada Group IPO
McCullough Robertson’s Corporate and Equity Capital Markets team has successfully advised AVADA Group Ltd (ASX: AVD, “AVADA”) on its $30 million Initial Public Offering (IPO) and acquisitions of the AVADA Group Businesses. AVADA has listed with a market capitalisation of $73.3 million and an enterprise value of $90.1 million.
AVADA is an essential provider of integrated traffic management control services, including planning and permit, traffic control, equipment hire, event management, and incident response. The capital raised via the IPO allowed AVADA to complete the acquisitions of five complimentary businesses (Verifact Traffic, Arid to Oasis Traffic Solutions, Platinum Traffic Services, D&D Traffic Management and The Traffic Marshall), establishing the Group’s strategic and extensive network throughout Queensland and New South Wales.
Lead Partner, Ben Wood commented ‘it has been a privilege to guide AVADA on its journey to listing on the ASX. McCullough Robertson would like to congratulate Dan Crowley, Lance Hockridge and the rest of the team at AVADA on this important milestone’.
View the ASX announcement here: Avada Group commences trading on the ASX
Team: Ben Wood, Reece Walker, Katy Matheson, Naomi Omundson, Andrew Bukowski, Rob Sosnowski, Adam Kearney