Going Private • Transportation

Pacific Equity Partners and CPP Investments Acquire SG Fleet

On April 30, 2025, private equity firm Pacific Equity Partners and pension CPP Investments acquired transportation company SG Fleet for 1.4B AUD

Acquisition Context
  • This is Pacific Equity Partners’ 2nd and CPP Investments’ 4th transaction in the Transportation sector.
  • This is Pacific Equity Partners’ 2nd and CPP Investments’ 54th largest (disclosed) transaction.
  • This is Pacific Equity Partners’ 28th and CPP Investments’ 4th transaction in Australia.

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M&A Deal Summary

Date April 30, 2025
Target SG Fleet
Sector Transportation
Buyer(s) Pacific Equity Partners
CPP Investments
Deal Type Going Private
Deal Value 1.4B AUD

Target Company

SG Fleet

Pymble, Australia
SG Fleet is a provider of integrated mobility solutions, including fleet management, vehicle leasing and salary packaging services. SG Fleet was founded in 1986 and is based in Pymble, New South Wales.
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Buyers Overview 2

Buyer

Pacific Equity Partners

Sydney, Australia

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 10.0B AUD
Size Mega
Type Sector Agnostic
DESCRIPTION

Pacific Equity Partner (PEP) is a private equity firm focused on buyout and late stage expansion capital investments in Australia and New Zealand. PEP typically partners with management teams in acquiring businesses and focuses on transactions valued up to AU$1 Billion. The Firm prefers control situations and typically holds investments for three to six years. PEP will not invest in start-ups or unprofitable businesses, as well as gambling or tobacco companies. Pacific Equity Partners was formed in 1998 and is based in Sydney, Australia. The Firm targets various industries.


Deal Context for Buyer #
Overall 38 of 39
Sector: Transportation 2 of 2
Type: Going Private 6 of 7
Country: Australia 28 of 29
Year: 2025 1 of 2
Size (of disclosed) 2 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-02 FMH Group

Moorabbin, Australia

FMH Group is a diversified logistics holding company with divisions across 4PL, warehousing, transportation, and technology. The Group comprises: Australia’s 4PL, efm Logistics; logistics technology company, Flip; transportation providers, Border Express, BagTrans, Spectrum Logistics, CouriersPlease and Logistics Holdings Australia, under which is GKR Transport, Niche Logistics and Formby Logistics. FMH Group is based in Moorabbin, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-16 Zenith Energy

Rivervale, Australia

Zenith specializes in the delivery of sustainable and reliable hybrid power solutions for remote, off-grid resource sector clients and urban microgrids for commercial, industrial, and residential precincts. Zenith Energy is based in Rivervale, Australia.

Sell -
Buyer
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


Deal Context for Buyer #
Overall 172 of 176
Sector: Transportation 4 of 4
Type: Going Private 33 of 34
Country: Australia 4 of 5
Year: 2025 9 of 13
Size (of disclosed) 54 of 60
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-29 RESA Power

Houston, Texas, United States

RESA Power provides mission-critical electrical system services and products for industrial, commercial, institutional, government, and utility end-users across North America. It provides quick turn-around custom manufactured or retrofit switchgear & breaker solutions and maintains an extensive inventory of obsolete and hard-to-find components. RESA Power was founded in 1928 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-30 Encino Energy

Houston, Texas, United States

Encino Energy is an oil and gas acquisition and development company. Encino acquires operated and non-operated working interests, minerals and equity interests in exploration and production and related businesses located primarily onshore in the United States. Encino Energy was founded in 2011 and is based in Houston, Texas.

Sell $5.6B