PRIVATEEQUITYAUSTRALIA.

COM

Private Equity News Australia

Australia Private Equity News Weekly Report Date
Edition 32 22 July 2019

ASX200 INDEX
Key Highlights From Various Media Sources
7,000
 Modern Star set to launch sale process
6,500
 IFM Investors in talks to acquire disability services provider
6,000
ONCALL
5,500
 SKM Recycling on the verge of administration
5,000
 Pure play online retailer MySale up for sale
4,500
4,000
'15 '16 '17 '18 '19
 Modern Star. It was reported that the formal sale process for Navis
Capital’s education resources company Modern Star is set to be
EQUITY INDICES (WEEKLY % CHANGE)
kicked off. 1
2.0%

1.0%
 ONCALL. It was reported that IFM Investors is in late-stage talks to

0.7%
0.6%
acquire disability services provider ONCALL in a deal worth circa 1.0%

0.1%

0.0%
$170 million. 1
LCC Asia Pacific – an award winning corporate finance and strategic advice0.0%
boutique & independent firm
 SKM Recycling. It was reported that family-owned recycling sorting

(0.7%)
(1.0%)
services provider SKM Recycling could potentially enter into

(0.8%)

(1.2%)
voluntary administration, with a number of distressed debt investors (2.0%)
understood to be circling the firm. 1

 MySale. It was reported that pure play online retailer MySale is up

for sale. The company is said to have reported $126 million in
revenue and $5 million in underlying LBITA in the six months to
December 2018. 1

 Stockland’s retirement business. It was reported that Canadian For more information
private equity firm Brookfield is eyeing Stockland’s retirement
business, which is valued at $1.5 billion. 2 David Gacic
Director – Corporate Finance
E: ddg@lccapac.com
 Amart Group. It was reported that Deutsche Bank, Challenger
Investment Partners, Investec and Westpac Banking Corp Duncan Ross
spearheaded a $300 million debt raising for Quadrant Private Director – Corporate Finance
Equity’s Amart Group. 1 E: sdr@lccapac.com

 Prime Media. It was reported that talks between regional Nicholas Assef
broadcaster Prime Media and a private equity firm about a takeover Founder & Principal
continue to progress. 2 E: naa@lccapac.com

 Arnott’s Biscuits. It was reported that Pacific Equity Partners and Phone : + 61 2 9262 2121
KKR could jointly buy the remaining Campbell’s international arm. 2
 PRIVATEEQUITYAUSTRALIA.COM

 Hobart Airport. It was reported that IFM Investors is set to lob an DAILY PERFORMANCE OF ASX200
indicative bid for the up for sale 51% stake in Hobart Airport. 1

 Onsite Rental Group. It was reported that Onsite Rental Group is eyeing

0.8%
1.0%
a listing on the ASX later this year. 1

0.5%
 Near. Singapore data startup Near reportedly raised $143 million
(from UK private equity firm Greater Pacific Capital) in a Series D
funding as it seeks to bolster its Australian business. 3 0.0%

(0.2%)
 Carbar. It was reported that vehicle subscription startup Carbar has

(0.4%)
raised $16.8 million in funding, with Insurance Australia Group
acquiring a majority stake in the business. 1

(0.6%)
(1.0%)

 Ping Services. It was reported that Ping Services, a developer of a

device to detect wind turbine blade damage, has closed a $650,000
seed round. 3

 Direct Injection Technologies. Agtech startup Direct Injection

Technologies (DIT) has secured $600,000 in federal grant funding (the The ASX200 closed 0.1%
company is reportedly valued at $30 million). DIT’s technology uses an higher for the week to
algorithm to dispense the right amount of supplements to farm
end at 6700 points. The
animals. 3
continued uncertainties
surrounding a global
trade war were offset by
dovish comments by the
officials of the US Federal
Reserve which increased
expectations of a 0.5%
interest rate cut this
month (rather than a
0.25% cut)

Sources:
(1) The Australian Financial Review
(2) The Australian
(3) SmartCompany
(4) ASX / Company Announcement
(5) Australian Mining
(6) Mining Journal

LCC Asia Pacific Insights: Australian Private Equity News Page 2

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firm. We assist our private equity clients with both investment banking & strategic consulting engagements
in areas of work including:
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to maximise exit valuation enhancing proprietary deal flows
Exit Deal
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ongoing strategic reviews (including

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optimise business operations Acquisition

deriving maximum value from acquisitions

through rapid organisation transformation,
implementing initiatives that “move the needle”
and ‘business coaching’ for C-Suite

LCC also works closely with family- and privately-owned businesses that are either considering exit options
or are seeking to raise external capital to accelerate their growth strategies.

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LCC Asia Pacific is a boutique investment banking practice, providing independent

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