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Anchorage Capital Partners eyes Dick Smith IPO

11 Sep 2013

stock market_lrgAnchorage Capital Partners is reportedly considering floating Australian retailer Dick Smith Electronics a year after buying the business.

The private equity firm has hired Goldman Sachs and Macquarie Group to advise on an IPO and other strategic options, said Reuters, citing sources familiar with the matter.

Anchorage bought Dick Smith for A$20m ($20.8m) from Woolworths in September 2012.

The firm said at the time that the deal was conservatively structured so that Dick Smith would emerge from the sale supported by a strong balance sheet with considerable asset backing and no core debt.

Dick Smith posted an EBITDA of A$24.6m on sales of A$1.57bn last year.

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