Led by Commercial Partner Jonathan Wenig, with assistance from lawyer Max Grunwald, the ABL team advised the Wilson family (Reece’s major shareholder group) on a $170 million sub-underwriting of shares as part of the $600 million equity raising for the Reece Group.
Jonathan Wenig commented: “We are pleased to have assisted the Wilson family on this matter. The equity raising will enable Reece to navigate through current market uncertainties from a position of strength”.
Reece is a leading supplier of plumbing, bathroom, heating, ventilation, air-conditioning, waterworks and refrigeration products to customers in the trade, retail and commercial markets.
This transaction follows an equity raising almost two years ago, when the firm’s commercial team advised the Wilson family on a $300 million investment into the Reece Group through an entitlement offer (part of a $560 million equity raising).
About Arnold Bloch Leibler
Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, family businesses, high-net-worth individuals and international corporations. The firm also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.
