Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


ANZ Funds Second Management Buy-Out

ANZ has arranged and completed the management buy-out (MBO) of Saeco ADI Limited and Precision Bearings & Transmission Limited from their Australian owner Consolidated Bearings Limited for $19.4m.

Motion Industries Limited a company owned by the MBO team and ANZ Private Equity made the acquisition. The acquisition was funded by equity from ANZ Private Equity and senior debt was arranged by ANZ Bank.

The Saeco ADI deal is the second management buy-out ANZ Private Equity have structured in the past five months and the third equity investment in the same period.

Mike Donovan, Managing Director of Motion Industries, says they were impressed by what ANZ Private Equity offered and their philosophy.

"As Lead Advisers and equity partners, ANZ Private Equity recognised the evolutionary opportunity for the companies to move to the next stage of their development and in their advisory capacity, retained a real focus on maximisation of shareholder value."

ANZ Managing Director, Dr Murray Horn, says ANZ is the only trading bank in Australasia with an integrated private equity business and it has a clear strategy for the growth of its business in New Zealand.

"Our focus is on our bank customers because of our existing relationships. We provide a one-stop-shop for these companies from valuation work to strategic analysis, right down to bottom line - private equity capital, corporate finance, structured debt and relationship banking.

"ANZ broadly focuses on three investment categories. Firstly we have development capital for established businesses looking to grow, secondly MBO's, and thirdly public-to-private (PTP) transactions were publicly listed companies are looking at returning to the private arena."

ANZ Head of Corporate Banking, Dean Adams, says one of the key issues for the corporate market in New Zealand has been the lack of product, especially at the equity end of the spectrum.

"ANZ Corporate Managers are now able to talk in the language of the owners and introduce these corporate finance concepts, backed by a strong product capability and established customer relationships. We believe we offer a very different proposition to our corporate customers than our competitors, one which is substantially more attractive, especially to well managed, growing companies."

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news