NEWS & VIEWS

Global private equity and venture capital news and research

Pacific Equity Partners eyes A$1bn Spotless Group IPO

28 Apr 2014

australia_koala_170sqAustralia’s largest buyout house Pacific Equity Partners is eyeing an A$1bn IPO for portfolio company Spotless Group two years after buying the business.

Cleaning and catering services company Spotless will sell off existing and new shares representing 51 per cent of the company at a price between A$1.60 and A$1.85.

PEP will continue to hold the remaining 49 per cent following the listing.

The firm bought Spotless Group in a take-private deal in May 2012 after raising its bid to A$720m.

PEP is believed to have arranged more than A$500m of debt for the buyout, which would have seen the company leveraged at about 3.5 times its EBITDA.

The company previously knocked back fellow private equity firm Blackstone when it came calling with an A$657m offer in May 2011.

Copyright © 2014 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014