Gadens has advised Citadel Group on the acquisition of Wellbeing Software Group, a leading UK radiology and maternity software solutions provider. It comes as the part of Citadel’s global expansion strategy.

Founded in 2007, Citadel is a leading Australian software and technology company that specialises in information management across health, national security, defence and corporate enterprises.

The acquisition is to be funded through a fully underwritten equity placement to raise approximately A$127 million together with underwritten senior syndicated secured debt facilities of A$90 million and a A$10 million revolving working capital facility.

Corporate partner Jeremy Smith and senior associate Steven Wambeek led the transaction, with support from Matthew Trinca, Yoni Baker and Brittany Kluske.