DLA Piper advises Whitehelm on sale to Patrizia

Global law firm DLA Piper has advised Whitehelm Capital (Whitehelm) on its sale to PATRIZIA AG, a leading partner for global real assets. The initial purchase price of EUR67 million will be paid in a combination of cash and PATRIZIA shares.

The deal was via a share purchase agreement (SPA) to acquire the entire issued share capital of Whitehelm, one of the world’s most experienced infrastructure investment managers and strategy advisers.

With offices in London, Sydney and Canberra, Whitehelm manages infrastructure AUM of EUR3.2 billion with EUR1.6 billion of additional commitments. Whitehelm has a proven track record in diversified infrastructure equity and credit investment management having made more than 100 investments over the last 23 years.

Whitehelm’s product offering and investment expertise will significantly broaden PATRIZIA’s portfolio of investment solutions with a particular focus on smart cities & digital infrastructure, de-carbonisation & energy transition, water and environmental services, and social infrastructure, across equity, debt, and public listed infrastructure investments.

DLA Piper’s cross-border team was led by Australian partners Shane Bilardi (M&A) and Emma Kendall (Investment Funds) supported by Eddie Ahn (Tax, Australia), Rick Catanzariti (Employment, Australia), Matt Davies (Tax, United Kingdom), Alexandra Kamerling (Anti-Trust and Competition, United Kingdom), legal director Stephen Jones (Tax, United Kingdom), of counsel Nicholas Klein (International Trade, US), senior foreign legal associate Bradley Heath (Corporate, Australia), solicitors Kathryn Randle and Kimberley Chee (Corporate, Australia) and senior legal project manager Valerie Polovinkina.

Shane Bilardi said: “We are thrilled to have been able to bring a cross-border DLA Piper team together for Whitehelm to achieve a successful sale to PATRIZIA. This acquisition provides Whitehelm with the opportunity to significantly grow its AUM over the medium term with the support of PATRIZIA and is transformative for PATRIZIA as it substantially strengthen its infrastructure offering.”

Closing of the transaction is subject to regulatory approvals and expected to take place in Q1 2022.