Australia
CHAMP Private Equity’s oOh!media to buy Eye Corp
CHAMP Private Equity’s oOh!media has agreed to buy Eye Corp, Ten Network Holdings’ outdoor advertising business. The deal values Eye at up to A$145 million, of which A$120 million will be paid in cash on completion, with the remainder due in three...
Australia’s PEP sells Hoyts Distribution to Studiocanal
Pacific Equity Partners (PEP) has exited Hoyts Distribution, the largest independent film distributor in Australia and New Zealand, to European film giant Studiocanal. The private equity retains other Hoyts Group assets, including cinema operator Hoyts...
CHAMP in $192m take-private bid for Gerard Lighting
CHAMP Private Equity has launched a A$186 million ($192 million) takeover bid for Australian light fittings distributor Gerard Lighting Group. The bid has won unanimous approval from Gerard’s board and the Gerard family, which has a 52% stake, has said...
Potential PE target Ingham Chicken goes on the block
Ingham Enterprises, Australia’s largest poultry producer, has put itself up for sale, alerting potential private equity bidders. Sole shareholder Bob Ingham he had decided to exit “after long and careful consideration.” Investec has been appointed...
KKR-backed Seven West launches $450m share issue
KKR investee Seven West Media plans to raise approximately A$440 million ($450 million) through the sale of new shares in order to reduce debt levels. The Australian company, which owns the Seven free-to-air network, the country’s second-largest magazine...
PE-backed Whitehaven Coal receives $5.5b takeover bid
Private equity firms First Reserve and Farallon Capital have reportedly expressed their support for a A$5.3 billion ($5.46 billion) takeover bid for their portfolio company Whitehaven Coal. Coal magnate Nathan Tinkler last Friday offered A$5.20 per share...
PE financing to be targeted in Australia takeover law review
Private equity firms that launch takeover bids for companies without clear financing packages are likely to be targeted in the Australian Securities and Investments Commission’s (ASIC) review of takeover legislation.
HAPE clinches $12m FastTrack buyout
Harbert Australia Private Equity (HAPE), a unit of America’s Harbert Management Corp (HMC), has acquired a majority stake in recruitment and payroll software provider FastTrack.
Australian state launches $200m cleantech program
The Australian government has launched a $200 million merit-based grants program designed to encourage businesses to find innovative ways of decreasing greenhouse gas emissions.
Crescent Capital offers $225m for Australia's ClearView Wealth
Crescent Capital Partners has made a A$220 million ($225 million) takeover bid for Australian financial services company ClearView Wealth. Guinness Peat Group, which owns 47.8% of ClearView, said the offer was wholly inadequate and didn’t reflect the...
J.P. Morgan's Australia natural resources head to join PE firm
The head of J.P. Morgan’s Australia natural resources and infrastructure division, Alan Young, is leaving to join private equity firm Prostar Capital, a start-up private equity firm. He will remain with the investment bank until the end of the year.
PEP buys Nestle’s ice cream business
Australian private equity firm Pacific Equity Partners (PEP) has bought the Peters Ice Cream unit of Swiss food giant Nestle.
Advent Private secures GenesisCare exit through KKR buyout
KKR’s recent buyout of Australian healthcare firm GenesisCare secured an exit for mid-market investor Advent Private Capital. The domestic GP described the exit, which comes after a holding period of just three years, as “highly successful.”
Q&A: Pacific Equity Partners' Tim Sims
Tim Sims, co-founder and managing director of Pacific Equity Partners, argues that Australia’s strong fundamentals make it an attractive market for buyouts, while perceptions of an over-reliance on China are misplaced
Gresham in talks to sell Witchery to Country Road
Australia-listed fashion and homeware retailer Country Road has confirmed it is in talks with Gresham Private Equity about the potential acquisition of clothing brands Witchery and Mimco.
Anacacia Fund II reaches $75m first close
Australia’s Anacacia Capital has completed the first close of its Anacacia Fund II at $75 million within weeks of opening, raising 50% more than its original target. Superannuation funds, fund of funds and family offices from Australia and overseas...
Australia's Hastings raises $626m for infrastructure fund
Hastings Funds Management announced that its Utilities Trust of Australia (UTA) has reached a first close on its infrastructure fund with commitments of A$610 million ($626 million). The amount is in line with expectations outlined in January 2012 and...
EB Private Equity abandons David Jones takeover bid
Little-known UK-based investor EB Private Equity has withdrawn its takeover bid for David Jones, Australia’s second-largest department store chain. The group initially submitted an offer of A$1.52 billion ($1.55 billion) in May and later increased it...
CHAMP Ventures closes seventh fund at $483m
Australian GP CHAMP Ventures has closed its latest fund at A$475 million ($483 million) despite a challenging fundraising environment. The vehicle, which launched in August 2010, was oversubscribed, having initially targeted A$450 million.
Sprint Capital backs Australian coal miner
Sprint Capital has invested A$36 million ($36.4 million) for a 25% stake in Australian mining company Stanmore Coal. Capital from the Hong Kong-based private equity firm, which specializes in mining and natural resources sector transactions, will go towards...
Herbert Smith, Freehills announce merger
International law firms Herbert Smith and Freehills have announced they will merge to become the largest fully integrated law firm in Asia Pacific.
KKR takes majority stake in Australia’s GenesisCare
KKR has picked up a 63% interest in Australia’s GenesisCare, which provides services to patients with cancer and cardiovascular disease. It represents the latest in a string of healthcare sector deals by private equity firms, with TPG Capital and The...
Coller Barometer: Asia Pacific PE growth trend to continue
Global investors will continue to up their exposure to Asia-Pacific private equity over the next three years, according to the latest edition of Coller Capital’s Global Private Equity Barometer.
Billabong poised for takeover as share price tumbles
Australian surfwear retailer Billabong International saw its stock slump 36% when it resumed trading on Monday following a heavily discounted $225 million rights issue. The company is now worth less than one third of the value of TPG Capital’s A$841...