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Date: Nov 1, 2022
Source: Australian Financial Review
Excerpt
Australian buyout firm Quadrant Private Equity has raised $255 million from investors including Future Fund and ROC Partners for a new single asset fund that will buy and own the group’s auto parts distributor, MotorOne.
In a look at what’s likely ahead for other Australian private equity-owned companies, Quadrant will sell MotorOne on behalf of investors in its QPE Fund 4 into the new “continuation” fund, and manage the new fund for institutional heavyweights Future Fund and ROC - and a clutch of the country’s richest people.
The deal valued the auto parts company at about $450 million, including debt, and allows Quadrant to make money for existing investors and still back MotorOne management’s plans to set up a network of as many as 40 smash repairs shops along Australia’s east coast in the coming three years.
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