Law firms furnish Super A-Mart deal
Clayton Utz, Minter Ellison and Phillips Fox were all involved in the recent management buyout of Queensland-based fur
Clayton Utz, Minter Ellison and Phillips Fox were all involved in the recent management buyout of Queensland-based furniture retailer Super A-Mart for approximately $500 million, by a private equity consortium.
The deal was signed on May 19 and is expected to close today.
Bullock said the deal was arranged by Ironbridge Capital, who came across it on proprietary business. “We worked very quickly to secure the deal and document and line up the money required to buy the asset, but otherwise it was a fairly conventional private equity deal,” he said.
The seller, and company founder, John Van Lieshout will retain some of the real estate, but will no longer be involved in the business. It is likely that Super A-Mart will be floated on the share market or sold within the next five years.