Investment use: Management Buyout
Overview: Australia’s largest owner and lessor of Phonewords (subset of smartnumbers, i.e 13, 1300, 1800 telephone numbers)
Why we invested: 1300 Australia is a market leader with 95% market share. A highly cash generative business with predictable recurring revenues and a history of paying out consistent dividends. In addition, the management team were open to leverage, which was favourable for returns.
Why 1300 Australia chose us: 1300 Australia chose an investment partner with expertise and strength in capital markets and M&A experience, which is crucial for executing short- to medium-term goals post transaction. We were able to put forward a competitive offer and fair structure for existing shareholders to realise the value of their shareholding.