M&A Deal Summary

Equity Partners Pty Acquires Penrice Soda Holdings

On June 2, 2004, private equity firm Equity Partners Pty acquired chemicals company Penrice Soda Holdings from CPE Capital for 110M AUD

Acquisition Highlights
  • This is Equity Partners Pty’s 1st transaction in the Chemicals sector.
  • This is Equity Partners Pty’s 0th largest (disclosed) transaction.
  • This is Equity Partners Pty’s 4th transaction in Australia.
Investment Fate
  • Penrice Soda Holdings was sold to a publicly-traded strategic buyer in 2005.

M&A Deal Summary
Date 2004-06-02
Target Penrice Soda Holdings
Sector Chemicals
Buyer(s) Equity Partners Pty
Sellers(s) CPE Capital
Deal Type Secondary Buyout
Deal Value 110M AUD

Target

Penrice Soda Holdings

South Australia, Australia
Penrice Soda Holdings Ltd. Formerly Penrice Soda Products Pty Ltd) was established in the late 1930's. During CHAMP’s ownership Penrice was the only manufacturer in Australia of soda ash, a vital ingredient in products ranging from glass containers (especially wine bottles) to washing powder, and sodium bicarbonate, used in applications as diverse as animal feed, food and pharmaceuticals.

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Buyer(S) 1

Buyer

Equity Partners Pty

Sydney, Australia
Category Private Equity Firm
Founded 1995
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Equity Partners is a generalist private equity firm that targets investments in Australia and New Zealand. Equity Partners looks to invest in established, profitable businesses with AU$4 to AU$20 million of EBIT. Prospective transactions include management buyouts, buy-ins, recapitalizations, and expansion financings. Equity Partners will not invest in start-up or early stage transactions as well as real estate or mining companies. Equity Partners was formed in 1995 and is based in Sydney, Australia.

DEAL STATS #
Overall 4 of 12
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (Australia) 4 of 9
Year (2004) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-27 Immersive Technologies Pty.

Perth, Australia

Immersive Technologies is the dominant provider of operator training simulators to the global mining industry. We provided capital to help fund expansion of the company' product set as well as growth in international sales.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-01 National Credit Management

Eastwood, Australia

National Credit Management Limited provides the full range of credit management tools to enable your business to operate efficiently and smoothly. We have been leaders in the receivables and debt management market for over 10 years because we reliably deliver results, and our professional service is consistently of the highest quality.

Buy -

Seller(S) 1

SELLER

CPE Capital

Sydney, Australia

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 3.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CHAMP Private Equity is an Australian private equity firm focused on seed, expansion stage, and buyout investments across a range of industry sectors. CHAMP's buyout practice looks for businesses valued A$100 million and A$750 million, requiring at least A$30 million in equity capital. The Firm primarily looks for businesses operating in Australia and New Zealand. CHAMP is affiliated with New York based private equity firm Castle Harlan. CHAMP Private Equity was formed in 2000 and is based in Sydney.

DEAL STATS #
Overall 1 of 27
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 1 of 11
Country (Australia) 1 of 24
Year (2004) 1 of 3
Size (of disclosed) 11 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-02 AUSTAR Entertainment Pty

Brisbane, Australia

AUSTAR Entertainment Pty Ltd (Formerly Austar United Communications Ltd) the largest subscription television operator in regional and rural Australia. AUSTAR provides subscription television services in a service area of approximately 2.4m homes, one-third of Australia's total homes, primarily using digital satellite technology. AUSTAR also operates a digital cable network in Darwin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-18 Bradken

Mayfield West, Australia

Bradken Ltd. is a global foundry and metal casting business, specializing in innovative, custom-designed iron and steel parts and equipment. The company supply the world’s largest mining companies with our tailored products including ground engaging tools (GET), crawler shoes, mill liners, crusher liners and wear solutions and monitoring systems.

Sell AU$400M
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