Quadrant Private Equity plans to float Burson Auto Parts

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australian dollarAustralian private equity firm Quadrant is reportedly planning to float its portfolio company Burson Auto Parts after a two year holding period.

The firm, which acquired Burson for A$148m in 2011, has hired Morgan Stanley and UBS to manage the IPO, said the Wall Street Journal, citing a person familiar with the matter.

The IPO is expected to take place in the first quarter of 2014 and raise around A$300m ($290m), said the person.

Burson is expected to post an EBITDA of between A$40m and A$45m for the fiscal year to end June 2015.

Last week Quadrant exited its investment in New Zealand-based retirement village operator Summerset Group.

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