Australia
Billabong director explores buyout options
Billabong shares spiked 17% during Monday morning trading in response to the Australian surfwear company announcing that one of its directors was looking at a possible leveraged buyout. TPG Capital and Bain Capital both submitted bids of A$694 million...
Carlyle, Seven Group plan Coates Hire sale
The Carlyle Group and Australia's Seven Group are planning to sell their stakes in Australian equipment rental company Coates Hire. The news comes after the pair failed to proceed with an A$800 million ($831 million) IPO of the company earlier this year.
Investors give prognosis for healthcare investment in Asia - AVCJ Forum
Despite regulatory hurdles and a waning IPO market, the healthcare care sector is an increasingly attractive area of investment for venture capitalists.
Castle Harlan bid-rigging case goes before Australian court
A deal involving a Canadian mining services company that was bought and sold by US private equity firm Castle Harlan on the same day has gone before an Australian court.
KKR, Allegro pick up Australasian loan portfolio from BOS
KKR’s special situations business has teamed up with Australia’s Allegro Funds to acquire a portfolio of commercial loans from BOS International. The sale came after Lloyds International, BOS’ parent, conducted a review of its Australia and New...
PE & PR: Private equity’s public face
Private equity is more entrenched and better understood in some Asian markets than others. What do the various stakeholders - entrepreneurs, government, media, public - make of the asset class?
Asia buyouts: The privatization play
Take-private transactions have created headlines in a climate of low public market valuations. Companies are being targeted in Australia, Japan and the US, but a bid doesn’t necessarily result in a deal
CHAMP-backed oOh!Media targets more acquisitions
Australia’s outdoor advertising industry looks set for further consolidation as CHAMP Private Equity said portfolio company oOh!media is still on the acquisition trail after agreeing to buy Ten Network’s Eye Corp.
Riverside acquires Australian e-learning provider
The Riverside Company has bought Australian e-learning firm Learning Seat, its 300th acquisition. The transaction is the first investment of the firm’s affiliated Riverside Asia-Pacific Fund II.
Denham Capital to open office in Perth
Energy-focused PE firm Denham Capital is to open an office in Perth, Australia, in February. Based in one of the world’s main hubs for mining activity, the new office will be led by Bert Koth, director of Denham’s metals and minerals team.
CHAMP PE sells off Blue Star’s Australian operation
CHAMP Private Equity is said to have exited the Australian arm of printing and communications company Blue Star Group to a consortium including Wolseley Private Equity and CaxtonWeb. Blue Star’s New Zealand operations area also expected to be sold off.
Australian's Verde targets $52m VC fund
Australian venture capital firm Verde is seeking to raise A$50 million ($52 million) for a fund that will focus on bringing technology to market. It will concentrate on innovations in the medical, defense and technology sectors.
Ten Network, CHAMP Private Equity agree Eye Corp sale
CHAMP Private Equity’s portfolio company oOh!media has agreed to pay A$113 million ($117 million) for Eye Corp, Ten Network Holdings’ outdoor advertising business. Last week it downsized its original offer of A$145 million to A$110 million.
Australia’s fundraising rebounds with foreign investor support
The fiscal year ended June 2012 was reportedly the best fundraising year for the Australian private equity and venture capital industry since 2007-2008, with more than A$3.3 billion ($3.4 billion) raised by 21 funds.
Allegro Funds leads MBO of Australia’s Hastie Services
Allegro Funds has completed a management buyout of Australian industrial services group Hastie Services, months after parent company Lazard-backed Hastie Group went into administration.
CHAMP PE completes lighting take-private
Take-private deals are a challenge in Australia. Conflict creates headlines, but the country appears to see its fair share of majority shareholders falling out with prospective private equity investors despite the fact that share prices have turned against...
Anacacia agrees to sell Rafferty's to H.J. Heinz
Anacacia Capital has agreed to sell baby-food producer Rafferty’s Garden to H.J. Heinz, prompting a review by the Australian Competition and Consumer Commission (ACCA). There is sufficient crossover between the two companies’ businesses that the commission...
CPPIB acquires interests in two Australian shopping malls
Canada Pension Plan Investment Board (CPPIB) has acquired interests in two Australian shopping centers through a A$436 million ($450 million) investment in AMP Capital Retail Trust. CPPIB now has a 37% stake in the trust, which in turn owns 50% of Macquarie...
Australia’s RMB invests in card producer Placard
RMB Capital Partners, an Australian mid-market private equity firm backed by South Africa's FirstRand, has led an investment in Placard, a Melbourne-based producer of secure transaction cards. It is partnering with the existing owner and management team,...
CHAMP PE completes Gerard Lighting take-private
CHAMP Private Equity has completed the A$186 million ($192 million) buyout of Australian light fittings distributor Gerard Lighting Group. The company will de-list from the Australian Stock Exchange at the close of today’s trading, just over two years...
Champ PE makes lower offer for Eye Corp
CHAMP Private Equity’s portfolio company oOh!media has made a revised offer of A$110 million ($114 million) for Eye Corp, Ten Network Holdings’ outdoor advertising business.
CHAMP Ventures enters lonely waters
The Torres Strait separates the northern tip of Queensland from Papua New Guinea. It contains more than 270 small islands, most falling under the jurisdiction of Australia, and of which only a handful are inhabited. Cairns, the nearest urban center, is...
King & Wood Mallesons appoints head of private equity
King & Wood Mallesons has appointed Mark McNamara as head of private equity, effective November 6. He previously occupied the same role at Baker & McKenzie.
Cathay Fortune's Discovery Metals takeover bid turns hostile
Cathay Fortune Corporation (CFC), the private equity group founded by Chinese billionaire Yong Yu, has made a direct approach to Discovery Metals shareholders after the company's board rebuffed its A$830m ($856m) takeover bid.