Pacific Equity Partners
PE’s love-hate relationship with corporates
This week's AVCJ highlights three deals, all located down under, involving corporates in private equity – Bain Capital outbidding Sage for Archer and HarbourVest’s MYOB, Asahi taking over Independent liquor from Pacific Equity Partners and Unitas,...
Asahi to buy Independent Liquor from PEP, Unitas for $1.25b
Asahi Group will buy New Zealand beverage group Independent Liquor from Pacific Equity Partners (PEP) and Unitas for NZ$1.5 billion ($1.25 billion). The Japanese firm’s Australian subsidiary plans to buy all outstanding shares in Flavoured Beverages...
Asahi to buy Independent Liquor for $1.3b – report
Asahi Group Holdings is set to reach an agreement this week on the JPY100 billion ($1.3 billion) purchase of Independent Liquor, which is owned by Pacific Equity Partners (PEP) and Unitas Capital, The Nikkei reported.
Collins shares drop 8% on trading debut
Australian fast-food group Collins Food, which was taken public by Pacific Equity Partners (PEP), saw its shares drop 8% on its trading debut. This came despite the offering being priced at the bottom of its A$2.50-$2.92 range.
PEP, Unitas tipped to sell Independent Liquor to Asahi
Asahi Group Holdings has emerged as the leading candidate to purchase New Zealand drinks maker Independent Liquor, which is currently owned by Pacific Equity Partners and Unitas Capital. The deal could be worth up to NZ$1.4 billion ($1.2 billion), Dow...
Affinity makes final bid for Australian meats firm
Affinity Equity Partners has submitted a final bid for a controlling stake in Primo Smallgoods, a source close to the deal has told AVCJ. Earlier reports suggesting that the bid for the Australian meat products company amounts to A$580 million ($622 million)...
PEP-backed Collins Food raises $216m through IPO
Collins Foods, the Australian fast-food group owned by Pacific Equity Partners, has raised A$201.8 million ($216.6 million) after pricing its IPO at the bottom of the indicative range, Reuters reported. It is still the largest domestic offering of the...
Collins Booksellers to take REDGroup’s Angus & Robertson franchises
Australian book chain Collins Booksellers has reached an agreement with REDGroup Retail’s administrators to take several Angus & Robertson franchises, according to local media reports.
Archer’s fifth fund could reach $1.5b
Archer Capital’s much talked-of fifth fund could reach A$1.4 billion ($1.5 billion), with Future Fund expected to sign up as an investor, The Australian reported. The fundraising target was previously said to be A$ 1.2 billion ($1.27 billion).
PEP-backed Collins Foods seeks to raise $255m through IPO
Collins Foods, the Australian fast-food group owned by Pacific Equity Partners, plans to raise up to A$238 million ($255 million) through an IPO. The firm will offer 81.6 million shares priced at A$2.50-2.92 apiece in what is potentially Australia’s...
Buyouts reassess their Australia risk
A hot currency and a degree of regulatory uncertainty are not turning investors away from Australia, but they may alter how buyouts do business there
PEP targets $263m IPO for Collins Foods
Collins Foods, the Australian fast-food group owned by Pacific Equity Partners (PEP), is planning an IPO worth about A$250 million ($263 million). Deutsche Bank and UBS have been appointed joint lead underwriters and have already begun pre-marketing,...
PEP considers Collins Food Group IPO
Pacific Equity Partners wants to take Collins Foods Group public before the end of the year with a target enterprise value of $400 million. According to the Australian Financial Review, Deutsche Bank and UBS are close to finishing pre-marketing research...
Haitong plans $1.5b fund to support Chinese firms going global
Chinese brokerage Haitong Securities plans to launch a RMB10 billion ($1.5 billion) fund to support domestic companies expanding overseas, Reuters reported, citing a person familiar with the situation. The fund will be managed through Haitong’s private...
Unitas, PEP may sell Independent Liquor stake to Chinese firm
China Bright Foods Group is among the potential bidders for a stake in Independent Liquor, a New Zealand beverages group owned by private equity firms Unitas and Pacific Equity Partners (PEP). The Shanghai-based company is keen to expand overseas through...
PE targets Australian healthcare
AT A TIME WHEN PROFITABLE EXITS in Australia are difficult to achieve due to the lingering effects of the global financial crisis, private equity firms continue to rely on healthcare for returns. This strategy received a ringing endorsement last week...
Pacific Road seeks $500m for new mining buyout fund
Pacific Road Capital Management, which targets buyouts in the mining sector, is planning to raise $500 million for its second fund. The Australian firm, which has invested in approximately 11 mining companies through its $320 million Resources Fund I,...
Archer Capital wins race for Australian hospital group
Archer Capital has bought Healthe Care, Australia’s third-largest hospital group, from CHAMP Ventures for $240 million. Pacific Equity Partners was the only other serious bidder, with Quadrant Private Equity pulling out, the Australian reported.
Distressed bookseller REDgroup Retail urgently seeks buyer
Pacific Equity Partners’ REDgroup Retail, the owner bookstore chains Borders and Angus & Robertson now under administration, is “urgently” looking for a buyer in order to continue operations.
PE-backed Witchery to IPO in Oz
Australia’s Gresham's Private Equity is reportedly looking to list its mid-market clothing retail asset Witchery later this year in an effort to raise A$300 million. The move comes in a market where other PE-backed IPOs of Australian companies have...
Second Oz retailer heads into receivership
Australian clothing and footwear retailer Colorado Group, controlled by Affinity Equity Partners, has been taken into receivership, marking the second Australian big-name PE-backed brand, after Pacific Equity Partners’ REDgroup Retail, to go down the...
Affinity-backed group also heads into receivership
One week after news surfaced that Australian clothing retailer Colorado Group neared the deadline to repay its banking covenants, the Affinity Equity Partners-backed asset has now gone into administration, reportedly owing its lenders A$405 million ($418...
Deal making Down Under
The 8th Annual AVCJ Private Equity and Venture Forum in Sydney brought together optimists, skeptics, GPs, LPs and the industry that makes Austrasia a hotbed of private investment activity
Hoyts’ IPO delay highlights industry anxiety
Australia experienced an especially difficult year for IPOs in 2010. News throughout the year of delays and abandoned listing plans were consistently attributed to inclement market conditions, while trade sales seemed the only exit option. Yet, despite...