Australia's Colinton Capital secures debut deal

The acquisition – Colinton’s first – is worth about A$70 million ($54 million) and supported by the likes of Myer Family Investments, MLC Private Equity, and listed investment firm Washington H Soul Pattinson. The transaction was first reported by the Australian Financial Review and has since been confirmed by AVCJ.

AMS was established in 2001 to provide engineering and maintenance support to the Australian Maritime Safety Authority. It continues to work for the government agency, maintaining more than 500 lighthouses, beacons and buoys nationwide. The company also provides port information management and vessel tracking systems, delivering on projects globally worth over A$450 million.

There are two other AMS divisions: AMS Defence takes the services offered to industrial clients – such as surveillance and communications systems integration and related maintenance services – and tailors them to defense; while AMS Aviation supplies and maintains equipment used by search and rescue operators.

Colinton is buying shares held by existing investors including John Sugarman, founder and CEO of AMS, who will stay involved in the business as executive chairman. The private equity firm plans to support expansion in Australia as well as overseas, primarily by seeking contracts with equivalent agencies to the Australian Maritime Safety Authority.

Moore left Carlyle at the end of 2016 after more than 11 years with the firm. David Bluff took over as head of Australia and New Zealand buyout activities. Colinton is currently operating on a deal-by-deal basis, an increasingly prevalent strategy in Australia’s middle market. It is also being pursued by former executives from the likes of Ironbridge Capital and Catalyst Investment Managers.

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• Topics
• Australasia
• Buyouts
• Support services
• Australia
• Logistics
• Colinton Capital Partners