Thursday, 3 October, 2013 - 15:23
Opportunity knocks for M&A bargains
A $93 million private merger funding for City Farmers’ expansion sets the pattern for WA companies in a tight capital investment market.
Clayton Hollingsworth, who was formerly iiNet's chief financial officer, bought into City Farmers in 2008 and expanded over six years before selling out to Greencross in 2014 for $205 million. He is now an investor in Muscleworx.
A $93 million private merger funding for City Farmers’ expansion sets the pattern for WA companies in a tight capital investment market.
Perth-based City Farmers has been sold for $205 million, just nine months after managing director Clayton Hollingsworth struck a deal for Quadrant Private Equity to pay $93 million for a major stake in the pet care retailer.
The resources sector continues to be critical to WA’s prosperity but smaller, less glamorous industries also have great stories to tell.
Position | Company | Year | Company's current rank |
---|---|---|---|
Managing Director
|
2008 - 2014 | ||
Company Secretary & Chief Financial Officer
|
2000 - 2005 | ||
Business Development
|
1997 - 1999 | 1 | |
Senior Manager
|
1990 - 1997 | 2 |
Announced | Bidder | Target | Transaction Type | Total Value | |
---|---|---|---|---|---|
Greencross Vets | City Farmers | Acquisition | $205.00m | >> | |
Quadrant Private Equity | City Farmers | Acquisition | $93.00m | >> |