IPH acquires AJ Park

 IPH has announced that, it has reached agreement to acquire the New Zealand intellectual property firm AJ Park by an acquisition of its patent attorney business, the benefit of its trade mark and legal businesses, and its associated Australian operations.

Established in 1891, AJ Park is the premier New Zealand IP firm employing 205 people and operating from offices in Auckland, Wellington and Sydney. AJ Park is a full service IP firm with a substantial local client base servicing clients ranging from large multinational corporations and universities to start-up companies and entrepreneurs. AJ Park will become the first New Zealand IP firm to join a publicly listed IP group.

The total purchase consideration for the acquisition is approximately NZD66.1m (approximately AUD60.9m) adjusted for net debt and working capital adjustments, which represents 7.5x FY17 normalised EBITDA.

Completion of the acquisition remains subject to a number of conditions including completion of certain restructuring and contractual arrangements, the receipt of necessary consents and approvals from third parties, and no material adverse changes.

Commenting on the acquisition, IPH’s Managing Director, David Griffith said “we are delighted to have reached an agreement to acquire AJ Park and extend a warm welcome to the partners and staff. The acquisition of AJ Park represents a further step in IPH’s strategy to expand its presence in secondary IP markets and, most importantly, supports IPH’s growth in Asia through extension of our Asian service offering to AJ Park’s local and international clients”.

Mr Griffith went on to say, “the addition of such a high quality IP business will further strengthen IPH’s position as a leading group in the secondary IP markets”.


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