NEWS: Russell Kennedy’s M&A team advises Auctus Investment Group Limited (ASX: AVC) on its investment in Lux Group Limited

successful-partnership M&A
Russell Kennedy Lawyers have advised Auctus Investment Group Limited (ASX: AVC) (Auctus) on its investment in Lux Group Limited (Lux), via its Luxury Escapes Fund (Fund) through its wholly owned subsidiary Auctus Asset Management Pty Ltd (AAM).

The investment has been made through a combination of a $32M Convertible Note into Lux and the purchase of approximately $36M of equity from existing shareholders. In combination, on a fully diluted basis, the Fund will have a shareholding of approximately 17.8%. AAM will act as manager of the Fund.

Auctus is an ASX listed global investment manager with in excess of A$460M Assets Under Management, focusing on opportunities across private equity, infrastructure and private real estate. Their core investment thesis is investing in sectors with strong tailwinds and potential to scale.

Lux is the owner of, one of the world’s fastest growing travel businesses, with the Melbourne-based online travel agency being one of Australia’s best performing travel businesses following the re-opening of international borders. Lux has more than 250 employees worldwide, with offices in London, New York, Sydney and Bangalore with customers in 29 countries. This investment will represent Lux’s first external equity capital raise since the business was founded in 2009.

The Russell Kennedy team was led by Principal Rory Maguire (Corporate Advisory / M&A) with Associate Jaqueline Wilson (Corporate Advisory / M&A) assisting on the transaction.

Mills Oakley Lawyers and Macquarie Bank advised Lux.

Russell Kennedy Principal, Rory Maguire, commented on the success, saying:

“Auctus’ investment reflects the market's confidence after receiving strong demand from investors. It was our pleasure to have advised Auctus on this significant investment and we look forward to seeing the continued growth of Luxury Escapes as the travel industry and international borders begin to open up once again.”

Further assistance:

For assistance regarding Russell Kennedy's venture capital expertise, please contact Rory Maguire or a member of our Corporate & Commercial Advisory team.

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Rory Maguire 

 Rory Maguire


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