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Salter Brothers Capital has developed and maintains client relationships built on trust, a commitment to delivering first-tier corporate and financial advice, and a focus on helping clients achieve their long-term corporate and growth aspirations.

 

Our Services Include:

SAB0013 icons Takeover Defence

Public and private company M&A and takeover defense

SAB0013 icons Valuation Transaction

Valuation and transaction structuring advice

SAB0013 icons Acquisition Origination

Origination of acquisition opportunities

SAB0013 icons Identification

Identification of buyer universe

SAB0013 icons Transaction Preparation

Transaction preparation, strategy, and negotiation

SAB0013 icons Shareholder Presentations

Shareholder communications and presentations

SAB0013 icons End to End Service

End-to-end transaction project management

CASE STUDY (BUY-SIDE + ECM)

Client

The Client is one of Australia’s largest online SME lenders. Founded in 2012, it listed on the ASX in June 2019 at A$3.78 per share (A$610 million market cap).

A combination of earnings downgrades, shifting portfolio composition towards lower-yielding “premium” borrowers, and increased operational costs caused share price to declined c. 90%.

Process

  • Salter Brothers Capital acted as buy-side advisor to the Salter Brothers Tech Fund for the take-private transaction.
  • Conducted proprietary due diligence on Prospa’s loan book, technology platform, financials and partner network.
  • Negotiated and structured a scheme of arrangement at $0.45 per share.
  • Coordinated legal, financial and regulatory workstreams through to implementation.

Outcome

  • Total deal value of A$73.8 million vs. IPO market cap. of A$610 million
  • 81.5% of shareholders voted in favour and 99.7% of vote cast approved the scheme
  • Successfully delisted from ASX on 9 August 2024, with Management and founders continuing to lead the business.

Timeline

timeline revised

corporate advisory

Corporate & Strategic Advisory

We focus on helping clients achieve long term growth aspirations by providing independent and strategic financial advice.

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mergers aquisitions

Mergers & Acquisitions

Our experience with public and private company M&A, divestments and takeover defense provides clients with the expertise required to maximise outcomes.

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equity capital

Equity Capital Markets

Our Capital Team provides independent equity capital markets advice and capital arranging support for IPO’s, placements, rights issues, as well as private market raisings.

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debt capital markets

Debt Capital Markets

A range of debt structuring and advisory services are offered to clients to address all types of liability-driven capital structure situations and challenges.

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Are you thinking “it’s time to sell your business”?

We can answer any questions you may have about business valuations, acquisitions, capital raising and business strategy.