Successful Sale of Ingham Enterprises

Successful Sale of Ingham Enterprises

After careful consideration, Bob Ingham has agreed to sell his longstanding family business, Ingham Enterprises Pty Ltd ("Ingham Enterprises"), to TPG, a leading global private investment firm.

Mr Ingham said "I am extremely proud of the business and its achievements to date, and it is exciting to see the business embarking on its next stage of growth under the ownership of TPG."

The day-to-day operations of Ingham will continue as usual under the direction of the CEO Kevin McBain and his team.

"An important part of the decision for me was finding a buyer who would ensure that our customers will continue to receive the highest level of service and our employees would be well looked after. I believe I have found that in TPG", said Mr Ingham.

Ben Gray from TPG said "TPG is privileged to be buying a great Australian business from a great Australian businessman". He added "we look forward to continuing to grow, innovate with and serve the strong and loyal customer base and back the team lead by Kevin McBain".

Mr Ingham thanked his management team, staff and customers for their support during the sale process and during the last 95 years of the business' history. He looks forward to their continued support of Ingham under its new ownership.

Mr Ingham and his family are retaining the Ingham Racing business as well as a substantial property portfolio which is surplus to the operations of Ingham Enterprises.

Ingham Enterprises was advised by Investec Bank (Australia) Limited, Thomsons Lawyers and PwC. TPG was advised by Macquarie Capital (Australia) Limited, Herbert Smith Freehills and KPMG.

ENDS

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