Allens has advised Symphony Infrastructure Partners on its innovative $488 million debt and equity financing package to accelerate the growth of its energy transition infrastructure platform.
The Series-A financing sees Blackstone, the world's largest alternative investment manager, invest $300 million into the business, supported by a $188 million senior debt facility from Commonwealth Bank of Australia.
Founded in 2022, Symphony develops, operates and owns specialised services critical to accelerating Australia's energy transition.
The funding enabled Symphony to complete the acquisition of five new portfolio companies, establishing one of Australia’s leading independent energy infrastructure services platforms. Together with its existing businesses, Symphony provides for customers an end-to-end integrated solution for major transmission infrastructure and grid connection services. With over 1000 staff and operations nationally, Symphony will continue to invest to expand significantly the capacity of its portfolio companies to accelerate the energy transition.
'It has been a privilege to work with Symphony's founder and CEO, Steve Butler, together with Nathan Gooley (CFO), Damien Hughes (General Counsel), Louise Sexton (Governance and Company Secretarial) and the broader Symphony and Lazard Australia teams on this important transaction, utilising an innovative debt and equity structure for the mutual benefit of all,' said Co-Lead Partner Adrian Amer.
'Forward-thinking leadership, private capital and traditional bank capital all have pivotal roles to play in supporting Australia's energy transition. This transaction between Symphony, Blackstone and CBA embodies those powerful synergies,' said Co-Lead Partner Tim Stewart.
'We are excited to watch Symphony go from strength to strength working with Blackstone and look forward to the opportunity to work with Symphony for years to come,' said Managing Associate and core member of Allens Accelerate, Madeleine Hunt.
Kain Lawyers also assisted Symphony in connection with the financing and portfolio company acquisitions. Lazard Australia acted as financial advisor to Symphony.
Allens legal team
Corporate
Adrian Amer (Co-Lead Partner), Madeleine Hunt (Managing Associate), Will Brown (Senior Associate), Rachael Short (Associate), Gilad Harel (Associate), Tim Walsh (Associate), Annie Reddick (Lawyer)
Banking & Finance
Tim Stewart (Co-Lead Partner), Flavia Michael (Senior Associate), Steven Faulkner (Senior Associate); Angela Lambros (Associate), Campbell Halliday (Associate), Catherine Thomas (Lawyer), Yukimaro Li (Lawyer)
Funds, Super and Financial Services
Marc Kemp (Partner), Wayne Kwok (Associate), Lara Duggan (Lawyer), Caitlin Douglas (Law Graduate)
FIRB
Jeremy Low (Partner), Andrew Wong (Mergers & Acquisitions Counsel)