M&A Deal Summary

Direct Capital Acquires Bayleys

On June 11, 2010, private equity firm Direct Capital acquired real estate company Bayleys

Acquisition Highlights
  • This is Direct Capital’s 1st transaction in the Real Estate sector.
  • This is Direct Capital’s 26th transaction in New Zealand.

M&A Deal Summary
Date 2010-06-11
Target Bayleys
Sector Real Estate
Buyer(s) Direct Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Bayleys

Auckland, New Zealand
Bayleys is a full-service real estate company with a national network of franchise partners as well as directly owned agencies. Bayleys was founded in 1973 and is based in Auckland, New Zealand.

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Buyer(S) 1

Buyer

Direct Capital

Auckland, New Zealand

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 1.7B NZD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Direct Capital is a private investment firm focused on private equity and venture capital investments in Australia and New Zealand. Direct Capital's later stage investment area looks to commit NZ$20 to NZ$80 million in companies with revenues up to NZ$300 million. Target sectors include retail, food, consumer products, healthcare services, distribution, life science, and manufacturing. Prospective transaction situations include successions, management buyouts, expansions, acquisitions, and pre-IPO placements. Direct Capital was formed in 1994 and is based in Auckland, New Zealand.

DEAL STATS #
Overall 29 of 45
Sector (Real Estate) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 23 of 27
Country (New Zealand) 26 of 37
Year (2010) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-29 Transaction Services Group

Auckland, New Zealand

Transaction Services Group is an outsourced provider of highly differentiated solutions and technology that enables businesses to efficiently accept recurring payments from customers. Transaction Services Group was founded in 2007 and is based in Auckland, New Zealand.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-24 Cavalier Wool Holdings

New Zealand

CWH is New Zealand's largest wool scouring operator and is the country's only independent "commission only" scourer. CWH is a key service provider to the New Zealand wool industry, processing "greasy" wool into "clean" wool and condense packing it into bales ready for export on behalf of wool merchants and end users such as carpet manufacturers. The company operates from two sites - Awatoto in Napier (North Island) and Washdyke in Timaru (South Island). An important by-product of the cleaning process called wool grease is also extracted and exported to manufacturers in Asia and Europe who refine it into lanolin for use in the pharmaceutical and cosmetic industries.

Buy -
Mergr

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