Leading NDIS-registered provider, Everyday Independence, sells for up to $150 million.
Law firm Lander & Rogers has advised the shareholders of leading NDIS-registered provider of allied health services, Everyday Independence, on its sale to ASX-listed APM Human Services International Limited (APM).
Established in 1997, Everyday Independence is one of the largest providers of NDIS therapy services in Australia, employing more than 600 people and serving over 10,000 participants at 30 locations across major states.
According to Lander & Rogers project lead and special counsel Paul Mayson, "the deal structure was complex, including an upfront cash payment of $35 million on completion, a $17.5 million deferred payment, and an EBITDA-based earn-out, which could bring the total consideration up to $150 million".
Mr Mayson said, "the deal also featured warranty and indemnity insurance, providing limited recourse to the selling shareholders for any post-completion warranty issues".
Working alongside Mr Mayson on the deal was partner and head of Lander & Rogers' Sydney Corporate practice David Morris, senior associate Breanna Taylor, and lawyers Annabelle Gray and Jack Boydell.
Also advising on the deal was KPMG's mergers and acquisitions team, including partner and head of KPMG M&A Peter Turner, partner Helen Sutherland, associate director Lauren Morcom and manager Oliver Ellison.
Mr Morris stated that Lander & Rogers was "thrilled to act for the shareholders of Everyday Independence on such a significant transaction. Everyday Independence is among the largest and most respected NDIS-registered providers in the country and, under the umbrella of APM, it will have an even greater impact on the lives of individuals, families and communities."
Everyday Independence Founder and CEO Leanne Healey expressed her gratitude to the Lander & Rogers team, noting the "wisdom and calmness in which our needs were represented".
The transaction is one of numerous major strategic M&A matters the firm has acted on in recent months, including Fujitsu's acquisition of ServiceNow consultancy Enable Professional Services, FibreCycle's dual acquisition of Our Bird and Lovitts Group and RACE consortium's acquisition of Supercars Championship.
