CHAMP, Yorkway to buy Australian quantity surveyor

CHAMP will have the largest portion of the 70% stake going to the new investors. The rest will be held by members of the existing management team, as first reported by the Australian Financial Review. AVCJ understands the deal has yet to close but will do so imminently.

The sale was triggered by BMT's founders, Tom Plenty and Brendan Farrugia, deciding to exit the business. CEO Bradley Beer will remain in place with part of the management stake in the company.

BMT was set up in 1997 with offices in Sydney and Newcastle. It now has a presence in 13 locations nationwide, employing approximately 200 staff. The company specializes in tax depreciation, advising clients on applications for tax deductions based on the depreciation in value of a property and fixtures and fittings within it as they get older.

Working with accountants, property developers and investors, and real estate professionals, BMT draws up customized depreciation schedules. There are more than 1,500 items identified by the Australian Tax Office as depreciable assets, ranging from carpets to swimming pool filtration and cleaning systems.

CHAMP Ventures is currently investing its seventh fund, which closed in 2012 at A$475 million in 2012. It targets equity investments of A$20-80 million, pursuing expansion capital, replacement capital and buyout opportunities. Yorkway is a transaction advisory business that also commits capital to deals on behalf of third-party investors.

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• Topics
• Australasia
• Buyouts
• Industrials
• Support services
• CHAMP Ventures
• Australia
• buyout
• Real estate
• professional services