CHAMP Ventures completes IPO of SG Fleet
CHAMP Ventures, one of Australia’s leading private equity firms, today completed the initial public offering (“IPO”) of SG Fleet (ASX:SGF) on the Australian Stock Exchange (“ASX”). The IPO valued SG Fleet at an enterprise value of A$454.2 million. The IPO was fully underwritten by Goldman Sachs and Morgan Stanley. SG Fleet commenced trading on a conditional and deferred basis on 4 March 2014.
Under the terms of the IPO, CV funds realised 100% of their investment in SG Fleet at IPO. Super Group Limited (“Super Group”), our shareholder partners in SG Fleet, retained their 51% existing shareholding and SG Fleet’s management team reinvested a substantial proportion of their stake.
SG Fleet is one of Australia’s leading providers of fleet management and salary packaging services. CHAMP Ventures partnered with Super Group and the management team, led by CEO Robbie Blau, to complete a minority investment in SG Fleet in April 2011.
SG Fleet CEO Robbie Blau said, “Listing on the ASX marks an exciting new phase for SG Fleet and we welcome our new investors to the company. SG Fleet‘s listing provides an excellent basis to grow our business through a combination of growing our market share in existing market segments; increasing the level of outsourcing in our market and continuing our R+D and technology investment to deliver superior fleet management solutions for our customers”.
CHAMP Ventures Director, Jonathan Kelly added, “The listing of SG Fleet marks the culmination of our successful partnership with Super Group, Robbie and his team. SG Fleet grew strongly during the period of our investment, by delivering industry-leading solutions and super service to customers. The investment continues CHAMP Ventures track record of working with well positioned companies to achieve their growth objectives. We are pleased to see SG Fleet now begin a new phase as listed company”.
For more information please contact:
Jonathan Kelly
Director
CHAMP Ventures
+61 2 8248 8852
About SG Fleet
SG Fleet is one of Australia’s leading specialist providers of vehicle leasing and fleet management services, to corporate and government customers, as well as salary packaged vehicles for employees of those customers, with a fleet of more than 80,000 vehicles. SG Fleet also has a presence in New Zealand and the United Kingdom.
About CHAMP Ventures
CHAMP Ventures is one of the longest continuously-running private equity firms in the Asia Pacific region, specialising in growth capital, replacement capital and management buyouts targeting mid-sized businesses with strong growth potential. Since 1987, CHAMP Ventures has built a consistent, successful track record in Australia and New Zealand across a range of industry sectors, transaction types and exit routes.
CHAMP Ventures is part of the CHAMP Group, one of Australia’s leading private equity managers with over A$3 billion in funds under management. CHAMP Group has offices in Sydney and Brisbane, Australia and affiliated offices in Singapore and New York, giving it an unrivalled reach among its Australian-based peers.
Recent investments by CHAMP Ventures include: Sea Swift, Australia’s largest independent marine logistics company; Ansett Aviation Training, the leading provider of pilot and aviation-related training in Australia; RSEA, a successful and rapidly-growing safety products provider; Lorna Jane, Australia’s largest activewear retailer and lifestyle brand; and Mastermyne, a major underground coal contractor that successfully listed on the ASX in May 2010.
For further information, please refer to www.champventures.com
