Smell blood $$$ to be made
🇸🇬*KKR and rival funds line up for Singapore Post’s $1bn-plus Aussie assets*
Bridget Carter
20 hours ago.
Updated 19 hours ago
The Australian Business Network
Singapore Post owns Freight Management Holdings, Border Express and CouriersPlease in Australia. Picture: iStock
Singapore Post owns Freight Management Holdings, Border Express and CouriersPlease in Australia. Picture: iStock
Melbourne-based private equity firm BGH Capital, along with Blackstone, KKR, Pacific Equity Partners and EQT are all believed to be signing up to compete for Singapore Post’s $1bn Australian business.
Working on the offering, which includes its Freight Management Holdings and CouriersPlease, is Bank of America, and it’s understood information memorandums will be hitting the desks of budding suitors on Wednesday.
The documents are expected to show that the business generates about $120m of annual earnings before interest, tax, depreciation and amortisation.
Singapore Post’s sale plans had been well flagged within its home market. It describes Freight Management Holdings Group as a diversified logistics holding company with divisions across fourth party logistics and warehousing, transportation and technology.
It also owns Border Express, a freight service with 16 facilities and more than 700 vehicles in Australia, that provides end-to-end interstate logistics services, along with CouriersPlease, a franchised courier and parcel delivery service, providing shipping services to e-commerce retailers and traders nationally.
As earlier reported, the Australian operations of Singapore Post generated $921m in revenue for the year to March, compared to $866.7m in the previous corresponding year, and operating profit of $63.2m compared to $62.3m for the previous corresponding period.
The company said in its results that the continued growth in the Australia business was underpinned by new customer acquisitions and volume growth, despite challenging market conditions.
The results included a one-month consolidation of Border Express following the completion of the acquisition on March 1 for $210m.
It’s shaping up to be a busy time for private equity firms and other funds keen to get their hands on quality industrial businesses, what with Waste Services Group on the market and private equity firm Affinity Equity positioned as the contest favourite and PEP bidding, while Loscam’s owners have been testing interest for a sale via investment bank UBS, with KKR expressing interest.
Bridget Carter
Bridget Carter
DataRoom Editor
Bridget Carter
20 hours ago.
Updated 19 hours ago
The Australian Business Network
Singapore Post owns Freight Management Holdings, Border Express and CouriersPlease in Australia. Picture: iStock
Singapore Post owns Freight Management Holdings, Border Express and CouriersPlease in Australia. Picture: iStock
Melbourne-based private equity firm BGH Capital, along with Blackstone, KKR, Pacific Equity Partners and EQT are all believed to be signing up to compete for Singapore Post’s $1bn Australian business.
Working on the offering, which includes its Freight Management Holdings and CouriersPlease, is Bank of America, and it’s understood information memorandums will be hitting the desks of budding suitors on Wednesday.
The documents are expected to show that the business generates about $120m of annual earnings before interest, tax, depreciation and amortisation.
Singapore Post’s sale plans had been well flagged within its home market. It describes Freight Management Holdings Group as a diversified logistics holding company with divisions across fourth party logistics and warehousing, transportation and technology.
It also owns Border Express, a freight service with 16 facilities and more than 700 vehicles in Australia, that provides end-to-end interstate logistics services, along with CouriersPlease, a franchised courier and parcel delivery service, providing shipping services to e-commerce retailers and traders nationally.
As earlier reported, the Australian operations of Singapore Post generated $921m in revenue for the year to March, compared to $866.7m in the previous corresponding year, and operating profit of $63.2m compared to $62.3m for the previous corresponding period.
The company said in its results that the continued growth in the Australia business was underpinned by new customer acquisitions and volume growth, despite challenging market conditions.
The results included a one-month consolidation of Border Express following the completion of the acquisition on March 1 for $210m.
It’s shaping up to be a busy time for private equity firms and other funds keen to get their hands on quality industrial businesses, what with Waste Services Group on the market and private equity firm Affinity Equity positioned as the contest favourite and PEP bidding, while Loscam’s owners have been testing interest for a sale via investment bank UBS, with KKR expressing interest.
Bridget Carter
Bridget Carter
DataRoom Editor
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
默默的关注你成长 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")