M&A Deal Summary

QIC Acquires Sea Swift

On September 5, 2019, sovereign wealth fund QIC acquired marine company Sea Swift from HarbourVest Partners

Acquisition Highlights
  • This is QIC’s 1st transaction in the Marine sector.
  • This is QIC’s 2nd transaction in Australia.

M&A Deal Summary

Date 2019-09-05
Target Sea Swift
Sector Marine
Buyer(s) QIC
Sellers(s) HarbourVest Partners
Deal Type Secondary Buyout

Target

Sea Swift

Cairns, Australia
Sea Swift is a shipping business in remote locations (regular cargo business, project business, and fishing support). Sea Swift was founded in 1987 and is based in Cairns, Australia.

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Buyer(S) 1

Buyer
DESCRIPTION

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.


DEAL STATS #
Overall 3 of 8
Sector: Marine M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 4
Country: Australia M&A 2 of 4
Year: 2019 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-23 Pacific Energy

Kewdale, Australia

Pacific Energy is a provider of sustainable distributed energy, specialising in build-own-operate powergeneration for regional towns and resources sector. Pacific Energy was founded in 1981 and is based in Kewdale, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-01 Hobart International Airport

Cambridge, Australia

Hobart International Airport is the principal airport serving the Australian state of Tasmania. The airport has also established a community focused platform to support social, education and environmental initiatives, including a number of local not for profit and conservation groups. Hobart International Airport is based in Cambridge, Australia.

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Seller(S) 1

SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 99 of 150
Sector: Marine M&A 1 of 2
Type: Secondary Buyout M&A Deals 30 of 37
Country: Australia M&A 2 of 2
Year: 2019 M&A 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-30 monday.com

Tel Aviv, Israel

monday.com is a customizable work OS where teams create and shape workflow apps in minutes to plan, run, and track their processes, projects, and operations. As a web-based SaaS platform, monday.com facilitates a more efficient and intuitive way to manage teams and organizations of all sizes. The platform connects people to processes and systems, empowering teams to excel in every aspect of their work, while creating an environment of transparency in business. monday.com was founded in 2012 and is based in Tel Aviv, Israel.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-28 Sykes Holiday Cottages

Cheshire, United Kingdom

Sykes Holiday Cottages is an independent holiday cottage rental agency, that offers a fantastic choice of over 17,500 holiday homes across the UK, Ireland and New Zealand – from cosy cottages for two to larger properties that sleep 20 or more. Sykes Holiday Cottages was founded in 1991 and is based in Cheshire, United Kingdom.

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