Harmos Horton Lusk has advised Sydney-based private equity firm Mercury Capital on its acquisition of a 25% shareholding in Forsyth Barr Group Limited. Forsyth Barr is New Zealand’s largest wealth management business, with approximately 20,000 clients and 205 financial advisers across 25 offices. As a result of the transaction, Mercury Capital becomes the first outside (non-employee) investor in Forsyth Barr’s 90-year history. Mercury Capital’s acquisition was subject to Forsyth Barr shareholder approval and other conditions.
Harmos Horton Lusk advised Mercury Capital on all aspects of the transaction, including legal due diligence, acquisition documentation, ongoing shareholder arrangements and Overseas Investment Office consent. The Harmos Horton Lusk team who advised on the transaction was led by Tim Mitchelson and Andrew Harmos and included counsel Katie Carson, senior associate Emily Hunter, and associate Sam Baker.