Arnold Bloch Leibler has acted for Macquarie Capital Principal Finance, a division of Macquarie Bank, on its investment in Envest, the Australian based insurance investment and distribution business of the Ardonagh Group.
Macquarie will own a 15% interest in Envest. The transaction implies the enterprise value of Envest is more than $1 billion.
Corporate and M&A partner Christine Fleer led the transaction and was assisted by Corporate and M&A Partner Jason van Grieken, Banking & Finance partner Genevieve Sexton, as well as Corporate and M&A senior associates Luke Jedynak and Michelle Ainsworth and lawyer Kaitie Boyd.
Christine Fleer commented on the investment, saying: "We're glad to have assisted Macquarie in this significant investment into Envest's future growth".
Commenting on the transaction, Managing Director of Macquarie Capital Principal Finance, Richard Turner, said: “Envest represented a unique investment opportunity, with combined strengths of cultural alignment within its distribution platform and strong earnings growth and shareholder returns”.