New Governance, Same Philosophy
The merged entity will be helmed by current Soul Patts CEO Todd Barlow and Chair Rob Millner, preserving the company’s signature investment approach while embracing operational efficiency.
In a webcast presentation, Barlow reassured investors:
“It is extremely important that we adhere to the same processes and disciplines that have been creating enduring success for our shareholders for many decades.”
A single board and executive team will now oversee the entity, streamlining strategy and decision-making after decades of parallel—but intertwined—leadership structures.
Shareholder Breakdown and Capital Strategy
Upon completion, Soul Patts shareholders will own 72% of the new group, Brickworks 19%, and new investors 9%, bolstered by a fully underwritten AU$550 million capital raise, arranged by Aitken Mount Capital Partners. The funding will cover transaction costs, debt reduction, and liquidity options for Brickworks shareholders.
Financial advice is flowing in from top-tier firms: Pitt Capital Partners is guiding Soul Patts, while Citigroup Global Markets Australia is representing Brickworks. Ashurst LLP and King & Wood Mallesons are acting as legal counsel.
