QIC Mergers and Acquisitions Summary

Sovereign Wealth Fund Profile

In the last 3 years, QIC has acquired 3 companies.

QIC’s most common sectors for investment areenergy services and equipment (29%) and infrastructure (29%) . The Firm’s most common investment types include secondary buyout (43%) and divestiture (29%). In total, QIC has invested in 1 US state and 4 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Centrio Energy for $950M.

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M&A Summary

  • M&A Total Activity7
    • M&A Buy Activity7
  • Total Sectors Invested 5
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 6

QIC

Queensland Investment Corp.

Level 5, 66 Eagle Street,
Brisbane, 4001
Australia
+61 (0)7 3360 3800
www.qic.com.au

Queensland Investment Corp (QIC) is a government owned and funded investment group serving the Australian state of Queensland. QIC has a range of investment strategies including private equity, infrastructure, real estate, hedge funds, and equities. QIC was established in 1991 and is based in Brisbane.


Investment Criteria

Sectors of Interest: Business Services, Consumer Products, Consumer Services, Energy Services and Equipment, Infrastructure, Manufacturing, Oil/Gas Exploration, Real Estate, Renewable Energy

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Secondary Buyout

Geographic Preferences: United Kingdom, Western Europe, Eastern Europe, Nordic, Australia/New Zealand

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 4 - 2 1 - - 7
vol $950M $950M
Sell (0.0/yr) # - - - - - - 0
  7

Most Recent M&A

Company Date Value Type
Vector Metering 2022-12-21 - Divestiture
Wellington, New Zealand · www.vectormetering.com
Evolution Healthcare 2021-12-09 - Secondary Buyout
Wellington, New Zealand · www.evolutioncare.com
Centrio Energy Corp. 2021-02-02 950M USD Divestiture
Chicago, Illinois · www.centrioenergy.com
Hobart International Airport Pty Ltd. 2019-10-01 - Secondary Buyout
Cambridge, Australia · www.hobartairport.com.au
Sea Swift Pty Ltd. 2019-09-05 - Secondary Buyout
Cairns, Australia · www.seaswift.com.au
Pacific Energy Ltd. 2019-07-23 - Buyout (LBO, MBO, MBI)
Kewdale, Australia · www.pacificenergy.com.au
Brussels Airport Company NV 2019-03-15 - Stake Purchase
Brussels, Belgium · www.brusselsairport.be
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment 2 (29%) 950M (100%) 2 (29%) 950M (100%)
Infrastructure 2 (29%) - 2 (29%) -
Electrical Equipment 1 (14%) - 1 (14%) -
Healthcare Services 1 (14%) - 1 (14%) -
Marine 1 (14%) - 1 (14%) -
Total 7 $950M 7 $950M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Australia 3 (43%) - 3 (43%) -
New Zealand 2 (29%) - 2 (29%) -
United States 1 (14%) 950M (100%) 1 (14%) 950M (100%)
  Illinois 1 (14%) 950M (100%) 1 (14%) 950M (100%)
Belgium 1 (14%) - 1 (14%) -
Total 7 $950M 7 $950M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 3 (43%) - 3 (43%) -
Divestiture 2 (29%) 950M (100%) 2 (29%) 950M (100%)
Buyout (LBO, MBO, MBI) 1 (14%) - 1 (14%) -
Stake Purchase 1 (14%) - 1 (14%) -
Total 7 $950M 7 $950M

Deal Values

buy # Total
$100M to $1B 1 $950M
TOTAL $950M
Largest Centrio Energy Corp.
$950M (2021-02-02)

M&A Connections

Deals
Acquired from
Investor(s)
57%
4 (57%)
Strategic(s)
43%
3 (43%)

Investor Summary

Investor Type

Sovereign Wealth Fund

Size

Large

Established

1991

Specialist/Generalist

Generalist

Leadership

Kylie Rampa

CEO

Claire Blake

CFO

Ravi Sriskandarajah

Executive Director, Client solutions and Capital

Daniel Cheverton

Executive Director, Corporate Affairs, Government And Strategy

Glenn Jackson

Executive Director, Human Resources

FAQ

When was QIC founded?

QIC was founded in 1991.

What type of investor is QIC?

QIC is a sovereign wealth fund.

Where is QIC headquartered?

QIC is headquartered in Brisbane, Australia.

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