Arnold Bloch Leibler has acted for leading subscription based HR and payroll provider, ELMO Software (ELMO) on its proposed acquisition by US based private equity investor, K1 Investment Management by way of scheme of arrangement.
As reported in the Australian Financial Review, the scheme has an implied equity value of $486 million.
Gavin Hammerschlag commented: “We’re very pleased to have worked with the ELMO board and management on this milestone transaction. This is another example of our strong track record of working closely with boards and management of entrepreneurial listed and unlisted companies in achieving successful exits.”
The scheme is expected to be implemented in the first quarter of calendar year 2023.
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