CHAMP Ventures plans IPO for SG Fleet

South Africa's Super Group - the parent of SG Fleet - has said in a statement that, if the IPO proceeds, it would maintain a controlling stake of around 51%, while funds associated with CHAMP will exit. It added that the final decision had not yet been made.

According to AVCJ Research, CHAMP acquired its stake in SG Fleet from Super Group and Dufour Investment Holdings for A$35 million (then $40.9 million) in early 2012 via Champ Venture Investment Trust Funds No. 6 and No.7, which launched in 2006 and 2007, respectively.

SG Fleet is expected to lodge a prospectus with the Australian Securities & Investments Commission (ASIC) around February 13 with a view to a trading debut in March. The company has forecast EBITDA of A$61.7 million for the 2014 financial year, rising to A$66.8 million in 2015.

If the IPO is agreed it will add to a growing list of Australian PE-backed listings anticipated in the coming months. Others include Pacific Equity Partners-owned facilities management firm Spotless Group and Macquarie-owned educational software firm 3P learning.

This follows on from an eventful year for Australian IPOs with nearly a quarter of all funds raised - around A$2.1 billion - coming PE exits. Notable offerings included Virtus Health, Oz Forex, Dick Smith Holdings and Cover-More Group.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Australasia
• Exits
• Industrials
• Exit
• IPO
• CHAMP Ventures
• Australia
• Logistics
• Transportation