Listed insurance aggregator AUB Group Limited was in front of fundies on Monday with a $350 million raising, overseen by Goldman Sachs and Macquarie Capital.The transaction comprised a $279 million rights issue and $71 million placement,Funds raised would be used to help make AUB’s entry into the UK, where it has an $880 million deal to acquire insurance broker Tysers.
The acquisition valued Tysers at 12-times FY22 proforma EBITDA and 9-times post synergies, according to AUB’s pitch to potential investors. AUB’s funding package included the $350 million raising, $176 million vendor placement and a new debt facility. AUB lined up fresh debt worth $675 million. co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.