Parties
Company
IPH Limited
Company
Bereskin & Par LLP
On August 22, 2024, IPH Limited announced the acquisition of Canadian intellectual property (IP) firm Bereskin & Parr for CAD 82.5 million (approximately AUD 90.2 million). The acquisition brings Bereskin & Parr's team of over 70 IP professionals into IPH's existing Canadian operations under the Smart & Biggar brand. This deal marks IPH's fourth acquisition in Canada, reinforcing its strategy to consolidate its position in secondary IP markets. Bereskin & Parr, established in 1965, serves major corporations, universities, and government agencies, and filed more than 2,800 patents in 2023.
The transaction will be funded through an AUD 100 million equity raising, via an underwritten placement. The transaction is expected to be accretive to earnings per share (EPS) on a pro-forma basis in FY24, with anticipated cost efficiencies of approximately CAD 3.7 million over two years.
Aquasia acted as the financial advisor, with Cassels Brock & Blackwell and Bird & Bird serving as legal advisors to IPH. Macquarie Capital (Australia) Limited and Barrenjoey Markets Pty Limited were joint lead managers for the equity raising. The transaction is expected to close by late September 2024.
Deal Type
Merger & AcquisitionIndustry
OtherTransaction
$ 82,500,000Deal Status
ClosedClosing Date
27 September 2024