Allegro Funds Pty Mergers and Acquisitions Summary

Distressed Investor Profile

In the last 3 years, Allegro Funds Pty has acquired 2 companies. It has also invested in 1 other.

Allegro Funds Pty’s most common sectors for investment arehealthcare services (24%) and leisure (16%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (54%) and divestiture (24%). In total, Allegro Funds Pty has invested in 2 different countries. Its largest (disclosed) acquisition occurred in 2015 when it acquired Great Southern Rail for $20M.

The Firm’s most common exit type is secondary buyout (50%).

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M&A Summary

  • M&A Total Activity17
    • M&A Buy Activity13
    • M&A Sell Activity4
  • Total Sectors Invested 9
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 8
  • M&A Advisors 2

Allegro Funds Pty Ltd

Allegro Funds Pty Ltd Level 1, Plaza Building 95 Pitt Street,
Sydney, 2000
Australia
+61 2 8228 8700
www.allegrofunds.com.au
enquiries@allegrofunds.com.au

Allegro Funds is an independent private equity firm focused on mid-sized investment opportunities in Australia and New Zealand. The Firm will consider investing in businesses needing capital for growth, management buyouts, as well as more complex turnarounds and restructurings. Allegro's target investment size is A$10 to A$50 million in transactions valued up to A$300 million. Allegro is a generalist investor, however the Firm will not invest in property development, agriculture, or mining/exploration. Allegro Funds was formed in 2004 and is based in Sydney.


Investment Criteria

Sectors of Interest: Financial Services, Healthcare Services, Leisure, Retail

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Special Situations/Distressed

Geographic Preferences: Australia/New Zealand

Transaction Criteria Min Max
Target Revenue 50 -
Target EBITDA - -
Investment Size 10 50
Enterprise Value - 300
values in millions of AUD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.6/yr) # 10 - - 2 - 1 13
vol $20M $20M
Sell (0.0/yr) # 4 - - - - - 4
  17

Most Recent M&A

Company Date Value Type
Toll Global Express 2021-04-21 - Divestiture
Melbourne, Australia
Questas Corporate Pty Ltd. 2019-06-19 - Growth Capital
Seven Hills, Australia · www.questas.com.au
ATF Services Pty Ltd. 2019-06-03 - Secondary Buyout
Seven Hills, Australia · www.atfservices.com.au
TSC Group Holdings Pty Ltd. 2015-09-11 - Add-on Acquisition
Wellington, Australia · www.cowleyservices.co.nz
Great Southern Rail Ltd. 2015-03-30 20M USD Divestiture
Keswick, Australia · www.greatsouthernrail.com.au
Custom Bus Australia Pty Ltd. 2014-08-01 - Buyout (LBO, MBO, MBI)
, Australia · www.custombus.com.au
I-MED Network Ltd. 2014-03-24 - Secondary Buyout
Sydney, Australia · www.i-med.com.au
Bluestone Group Ltd. 2014-01-28 - Secondary Buyout
Cambridge, United Kingdom · www.bluestone.co.uk
Mothercare Plc 2013-01-30 - Bankruptcy
Watford, United Kingdom · www.mothercare.com
TSC Group Holdings Pty Ltd. 2012-09-01 - Buyout (LBO, MBO, MBI)
Wellington, Australia · www.cowleyservices.co.nz
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 1 (14%) - 3 (23%) -
Leisure 1 (14%) 20M (100%) 2 (15%) 20M (100%)
Business Services 1 (14%) - 2 (15%) -
Building Materials 1 (14%) - 1 (8%) -
Engineering 1 (14%) - 1 (8%) -
Financial Services - - 1 (8%) -
Manufacturing 1 (14%) - 1 (8%) -
Retail - - 1 (8%) -
Transportation 1 (14%) - 1 (8%) -
Total 7 $20M 13 $20M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Australia 7 (100%) 20M (100%) 11 (85%) 20M (100%)
United Kingdom - - 2 (15%) -
Domestic 7 (100%) 20M (100%) 11 (85%) 20M (100%)
Cross-border - - 2 (15%) -
Total 7 $20M 13 $20M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 3 (43%) - 7 (54%) -
Divestiture 2 (29%) 20M (100%) 3 (23%) 20M (100%)
Growth Capital 1 (14%) - 2 (15%) -
Secondary Buyout 1 (14%) - 1 (8%) -
Total 7 $20M 13 $20M

Exits by Deal Type

Type Total # Value
Secondary Sale 2 (50%) -
Bankruptcy 1 (25%) -
Trade Sale - Public Company 1 (25%) -
Total 4 -

Top M&A Advisors

Financial Deals
PwC Corporate Finance LLC
 1
Legal Deals
Ashurst LLP
 1

Deal Values

buy # Total
< $100M 1 $20M
TOTAL $20M
Largest Great Southern Rail Ltd.
$20M (2015-03-30)

M&A Connections

Deals
Acquired from
Investor(s)
8%
1 (8%)
Strategic(s)
23%
3 (23%)
Exited to
Investor(s)
50%
2 (50%)
Strategic(s)
25%
1 (25%)

Investor Summary

Investor Type

Distressed Investor

Size

Small

PE Assets

180M AUD

Established

2004

Specialist/Generalist

Generalist

Leadership

Adrian Loader

Founding Partner

Chester Moynihan

Founding Partner

Nicole Connolly

Director

Robert Thorpe

Director

Jennifer Cheung

CFO

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