Australia’s Quadrant to buy mining products company CQMS Razer


Australian mid-market buyout firm Quadrant Private Equity is reported to have reached an agreement to buy CQMS Razer, in a deal that values the mining products and services company at more than A$150m ($155m).

Macquarie Capital has relinquished its 55 per cent stake in CQMS Razer as part of the transaction, according to Deal Journal Australia.

Formerly known as Central Queensland Mining Services, CQMS Razer was founded in 1979 in the Bowen Basin, Queensland, an area renowned for its mining sector.

The company has since grown through a number of add-on acquisitions, which include Razer Industries, Pac Mining, Walkers Foundry, Hendrix Foundry and Mason & Cox, the report said.

The business has operations across Australia, China, South America, North America and Europe.

Quadrant was advised on the deal by Gilbert + Tobin and KPMG, the report added.

Quadrant is currently investing through its sixth fund, which closed in December 2010 with commitments of AUS$750m ($747.4m).

The close, which at the time marked the first successful fundraising by an Australian firm since the downturn, smashed targets of AUS$600m ($598.1m), and was raised in just two months.

Quadrant 6 also attracted international investors for the first time, with two thirds of commitments coming from domestic institutions and one third from international institutions.

The firm targets companies with an enterprise value of up to AUS$500m ($498.3m).

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