Record Point is an independent corporate advisory firm specialising in domestic and international advisory services for public and private companies.
“We were highly impressed with the Record Point team’s lead role during the … sale. The team assisted us by providing the high quality deliverables and process management we have come to expect from advisors, but differentiated themselves through their considered insights and genuinely value-additive approach to M&A. First class execution in every respect.”
“Record Point were instrumental in the … sale process, adding value at every step through to the finish line. The ultimate transaction result that was delivered was far beyond our expectations and would not have been achieved without the dedication and diligence that the Record Point team demonstrated throughout the process.”
“What distinguishes [Record Point] is their clarity of communication, agility, candour, integrity, ability to align the interests of stakeholders and the tremendous informal support they provide to the team during a high value and large scale process.”
“Record Point added value to every step of the process providing my Board and me with commercial and pragmatic advice at all times.“
“Record Point was instrumental in assisting my management team and me on Project Mason. They are an exceptionally capable and professional team who were across the detail of all aspects of the deal.”
“We felt we were in safe and experienced hands throughout the sale processes and with Record Point managing the sale processes, we could continue to operate our business through to completion ensuring we hit our forecasts that potential acquirers were relying on.”
“In addition to enhancing the valuation of the offer, [Record Point] added a tremendous amount of value by assisting me and my team through the challenges of juggling running a business and executing a complex transaction…”
On 25 May 2015, Evolution Mining Ltd (“Evolution” or the “Company”) announced the successful acquisition of the Cowal mine for A$704m from Barrick Gold Corporation (TSX listed).
The Cowal mine is located approximately 40km north-east of West Wyalong, New South Wales, Australia with annual gold production between 230-260koz and 1.6Moz of Proven and Probable Reserves.
Record Point acted as the exclusive financial advisor to Evolution, advising the company on the M&A process and assisting with the subsequent debt and equity fundraisings. The company is in the process of raising A$248m though a fully underwritten pro-rata Entitlement Offer in addition to the A$700m debt facilities which is partly used to fund the acquisition.
Paul Harris has a long history of working with Jake Klein, so he and the Record Point team engaged with Evolution’s VP Business Development and Investor Relations, Aaron Colleran and his team in the months prior to the sales process, building intelligence that proved to be important in the subsequent process. Record Point worked with the Company and its external technical advisors to better understand the mine’s value and its upside potential whilst benchmarking it against the competitive landscape.
Record Point supported Aaron in managing a complex transaction timetable, which included the simultaneous acquisition of the La Mancha assets valued at c. A$436m.
“We started working with Paul and his team at Record Point on the Cowal acquisition many months before Barrick commenced the sales process – throughout the engagement we found him insightful, professional and totally committed to the successful outcome Evolution was able to achieve.”
Jake Klein, Executive Chairman, Evolution
The Cowal acquisition, together with the purchase of La Mancha’s Australian assets makes Evolution the second largest ASX-listed gold producer with seven operating assets across Queensland, New South Wales and Western Australia.