As reportedearlier by GlobeSt.com, United is funding the acquisitionthrough a mixture of debt and equity, which will be raised throughan institutional placement of $A125 million. Some $A121 million ofthat is fully underwritten.
Under the agreement, Equis' 400-member senior management teamwill be led by Equis CEO David Montross, who will assume fullresponsibility for all aspects of the Equis business. MichaelSilver, the founder of Equis, is tasked with providing a "strategicadvisory role" to United Group and Equis.
With this acquisition, United has more than 12,000 employees inAustralia, New Zealand, Asia, USA and UK. "We see this acquisitionas an important part of our long-term strategy to lead specialistmarket sectors and provide a long-term growth platform for ourbusiness," says United Group managing director Richard Leupen.
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