True mid-market deals aplenty in Oz
“There has never been a better time to grab market share than now,” said Craig Cartner, Partner, Archer Capital, of the opportunity set in Australia. During a panel on growth drivers in the mid-market, the panellists discussed the true definition of the term ‘mid-market’ and just how much opportunity there is in Australia.
"Mid-market is really A$50million to $300 million in enterprise value," explained Tim Martin, Partner, Crescent Capital Partners. "And in reality the penetration of private equity [in that space] in Australia is not that high, particularly compared with somewhere like the UK."
Echoed Peter Hasko, MD with Wolseley PE, "Our deal flow is getting stronger every day," and with the banks slowly coming back, there are more deals to be done than fund managers to do them. This puts mid-market firms in an excellent position, given that not only is opportunity knocking, but it comes at a 20% discount to the larger buyouts.
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