HarbourVest-led consortium acquires Macquarie Capital Alliance Group in $837 million take private

Client(s) HarbourVest Partners, Pantheon Ventures, Partners Group and Paul Capital Partners

Jones Day served as Australian counsel to a consortium of investors consisting of investment vehicles managed by HarbourVest Partners, Pantheon Ventures, Partners Group, and Paul Capital Partners that has committed to financing the AU$837 million take-private acquisition of Macquarie Capital Alliance Group (MCAG). MCAG is an Australian Securities Exchange-listed, triple-stapled private equity group. Its investments are in European Directories, Red Bee Media, AIR-serv and Regis Group.

The acquisition was effected by way of company and trust Schemes of Arrangement that were subject to, among other things, approval by the requisite majorities of MCAG securityholders and court approval. The transaction financing included commitments by investment vehicles managed by the consortium members and other investors in a new private equity fund to be managed by Macquarie Capital and the sale of an interest in Red Bee Media.