Hall & Wilcox advises Powerwrap on successful $70 million recommended off-market takeover bid

News24 Sept 2020
We have advised Powerwrap Limited on the recent successfully completed recommended off-market takeover bid by Praemium Limited.

Hall & Wilcox has advised Powerwrap Limited (ASX:PWL) on the recent successfully completed recommended off-market takeover bid by Praemium Limited (ASX:PPS).

Powerwrap is an innovative technology service provider offering a specialised platform to wealth managers, financial advisers and brokers to manage and administer their client portfolios.

The Hall & Wilcox team was led by Partner John Hutchinson, with support from Partner James Morvell and Senior Associate Vanessa Murphy. The offer comprised cash/scrip consideration at a total value of approximately $70 million for all of Powerwrap’s issued share capital.

John Hutchinson commented: ‘We have worked closely with the Powerwrap Board and management team since the IPO and ASX listing in 2019 and are delighted to have assisted on this transaction which has created a merged entity with significant scale and market position as one of Australia’s leading independent specialist wealth management platforms.’

Hall & Wilcox has a strong public markets and M&A practice, with extensive experience in high-profile capital raising and capital management transactions. We have acted on a range of recent IPOs and ASX listings, secondary retail and institutional offerings, capital raising transactions by managed investment schemes, stapled security structures, on-market buy-backs and capital reductions. We also assist ASX-listed clients with ongoing compliance and corporate governance-related obligations.

Our Technology & Digital Economy industry group also advises clients on the full suite of technology-related transactions and projects, and our Financial Services team advises domestic and international clients doing business in Australia on a wide spectrum of financial services matters.

Hall & Wilcox acknowledges the Traditional Custodians of the land, sea and waters on which we work, live and engage. We pay our respects to Elders past, present and emerging.

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