M&A Deal Summary

SCF Partners and Viburnum Funds Acquire Contract Resources

On January 24, 2020, private equity firm SCF Partners and asset manager Viburnum Funds acquired business services company Contract Resources from Anchorage Capital Partners

Acquisition Highlights
  • This is SCF Partners’ 4th and Viburnum Funds’ 1st transaction in the Business Services sector.
  • This is SCF Partners’ 3rd and Viburnum Funds’ 3rd transaction in Australia.
Investment Fate
  • Contract Resources was sold to a publicly-traded strategic buyer in 2025 for 377M AUD.

M&A Deal Summary

Date 2020-01-24
Target Contract Resources
Sector Business Services
Buyer(s) SCF Partners
Viburnum Funds
Sellers(s) Anchorage Capital Partners
Deal Type Secondary Buyout

Target

Contract Resources

Perth, Australia
Contract Resources is a provider of specialized Industrial and mechanical services to the oil & gas, chemical, mining, cement and utilities Industries across New Zealand, and the Middle East. Contract Resources was founded in 1990 and is based in Perth, Australia.

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Buyer(S) 2

Buyer

SCF Partners

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

SCF Partners Ltd. is a specialist private equity firm that targets investments in energy service and equipment companies with operations around the world. SCF provides both equity capital and strategic guidance over the life of the investment which typically lasts five years. The Firm's target investment size is $10 to $100 million. SCF looks to grow portfolio companies through internal growth initiatives and through acquisitions. SCF Partners was formed in 1989 and is based in Houston, Texas, with additional offices in Aberdeen, Scotland and Calgary, Alberta.


DEAL STATS #
Overall 40 of 57
Sector: Business Services M&A 4 of 5
Type: Secondary Buyout M&A Deals 2 of 4
Country: Australia M&A 3 of 4
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-20 Score Group

Peterhead, United Kingdom

Score Group is an engineering solutions company, providing a full-spectrum of services to multiple 1market sectors, underpinned by a proven track record based on more than four decades of experience and innovation. Score Group was founded in 1982 and is based in Peterhead, United Kingdom.

Buy £120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-13 Hydrasun

Aberdeen, United Kingdom

Hydrasun is a provider of fluid connectors, hoses, fittings, instrumentation, process control products and associated services to the oil and gas industry. Hydrasun was founded in 1976 and is based in Aberdeen, United Kingdom.

Buy -
Buyer

Viburnum Funds

Nedlands, Australia

Investor Investor Investor Investor


Category Asset Manager
Founded 2007
Size Middle-Market
Type Sector Focused
DESCRIPTION

Viburnum Funds is a private, Australian investment firm focused on public and private company investments in the energy and minerals sectors. The Firm's private equity group targets mid-market buyouts. Viburnum Funds Pty Ltd was formed in 2007 and is headquartered in Perth.


DEAL STATS #
Overall 3 of 7
Sector: Business Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
Country: Australia M&A 3 of 7
Year: 2020 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-14 Rubik Financial

Sydney, Australia

Rubik Financial Ltd. is a financial software company providing banking, wealth management and mortgage broking solutions, primarily in Australia, and also internationally across Asia and the Middle East. Rubik has more than 150 employees servicing 930 direct clients and 23,000 end-users in 12 countries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-14 Cranecorp

Welshpool, Australia

Cranecorp provides specialist crane services to mining, energy, and industrial clients throughout key resource regions of WA, with a particular emphasis on major shutdown work. Cranecorp ia based in Welshpool, Australia.

Buy -

Seller(S) 1

SELLER

Anchorage Capital Partners

Sydney, Australia

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 810M AUD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Anchorage Capital Partners is a specialized private equity firm that focuses on control investments in established businesses with a strong market position or brand which are not performing at their full potential, often as a result of capital constraints, lack of management attention or being a non-core ‘orphan’ in a large corporate. Target companies generally have at least A$100 million of revenue and are valued up to A$250 million. Anchorage will consider companies in a variety of sectors, however, the Firm avoids investing in technology, direct real estate or mineral exploration. The Firm will consider opportunities throughout Australia, New Zealand, and Southeast Asia. Anchorage Capital Partners was established in 2008 and is based in Sydney.


DEAL STATS #
Overall 9 of 15
Sector: Business Services M&A 1 of 2
Type: Secondary Buyout M&A Deals 2 of 5
Country: Australia M&A 5 of 10
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-06 RFAM

North Sydney, Australia

RFAM offers leasing solutions for rolling stock such as locomotives, as well as intermodal and hopper wagons. The Company’s leasing offering is supported by a growing locomotive and wagon maintenance operation. RFAM was founded in 1998 and is headquartered in Sydney, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-04 Facilities First Australia Pty

Macquarie Park, Australia

Facilities First Australia provides facilities maintenance and cleaning services for customers at +2,500 sites across Australia. Facilities First provide services to customers in the government, hospitality, education, healthcare, corporate, and entertainment sectors. Facilities First Australia was formed in 1995 and is based in Macquarie Park.

Sell -