Deal Profile | Gadens advises the TEK-Ocean Group on successful ASX listing
2 September 2021
Gadens has advised energy services company TEK-Ocean on its $6.6 million initial public offering (IPO) and its successful listing on the Australian Securities Exchange (ASX).
Founded in 2007, Melbourne based TEK-Ocean provides an integrated service offering to its clients in the oil and gas, marine and renewable energy sectors, both on and offshore. The proceeds from the IPO will be used to fund capital improvements to its vessel and investment in subsea capital equipment, plus repay some of its debt facilities.
Commenting on the TEK-Ocean’s listing, partner Michael Kenny said:
“Gadens have worked with TEK-Ocean throughout the uncertainty brought about by the COVID-19 pandemic. It is excellent to see their journey continuing with them undertaking an IPO and a successful listing on the ASX. “
Sanlam Private Wealth acted as lead manager on the transaction.
Key team members: The ECM Team was led by corporate partner Michael Kenny who worked with Gary Lim (Senior Associate) and Brittany Kluske (Associate). The ECM team was supported by a number of the other practice groups in the firm, including employment advisory and real estate and construction.