16 August 2012

Clayton Utz advises Ironbridge Capital on retail sale

Sydney, 16 August 2012: Clayton Utz is advising leading private equity firm Ironbridge Capital (Ironbridge) in connection with the sale of a majority interest in Super A-Mart to Quadrant Private Equity.

Announced to the market yesterday, the transaction also involved the sale of Barbeques Galore businesses and will see Quadrant acquire a majority stake in a new entity for the common ownership of the two businesses. The remaining interest will be held by Ironbridge, Macquarie Group, Partners Group and management.

Clayton Utz Sydney Private Equity partners Niro Ananda and Jonathan Donald and Finance partner Geoff Geha are leading the team advising Ironbridge, with support from senior associates Kounny Rattley and John Farren-Price and special counsel Kathryn Mitchell.

Commenting on the firm's relationship with Ironbridge, Mr Ananda said: "Clayton Utz is pleased to advise longstanding client Ironbridge in relation to its negotiations with Quadrant, having previously advised Ironbridge on its initial investment in Super A-Mart in 2006."

Clayton Utz's national head of Private Equity David Stammers said the team continued to be at the forefront of significant market activity having advised on a number of substantial private equity acquisitions and divestments over the last 12 months.

"Despite market conditions affecting the overall number and volume of private equity acquisitions and divestments, over the last 12 months our team has experienced a strong flow of work including roles on: the NZ$1.525 billion sale of Independent Liquor by Pacific Equity Partners and Unitas; the A$700 million sale of iNova by Ironbridge Capital and Archer Capital; and on the A$1.2 billion acquisition of MYOB by Bain Capital. This experience translates to a comprehensive knowledge of the latest developments in private equity transaction structures and market practice," said Mr Stammers.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this bulletin. Persons listed may not be admitted in all states and territories.
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