Login
Powered by
MOMENTUM
MEDIA
Powered by MOMENTUM MEDIA
Ironbridge Funds has reduced its investment in fleet management and car financing group Eclipx, with the successful execution of a 38 million share block trade.
Firms: Clayton Utz (Ironbridge Capital Management)
Value: More than $120 million
Area: Banking and finance
Key players: Clayton Utz corporate/private equity partners Niro Ananda (pictured) and David Stammers led the team advising selling shareholder Ironbridge Funds, with assistance from senior associate Kounny Rattley.
Deal significance: Eclipx is a fleet management and car financing group, of which private equity firm Ironbridge Capital Management (Ironbridge Funds) executed the block trade of a portion of its share stake. According to the AFR, Ironbridge Funds has retained a 10 per cent shareholding in Eclipx.
The successful block trade saw UBS purchase the 38 million shares from Ironbridge Funds for over $120 million.
Clayton Utz advised Ironbridge Funds on the execution of the block trade. In a statement released by the firm, the deal adds to the track record of Clayton Utz’s private equity team, which has acted on a number of block trades for private equity investors over the years who have exited investments in ASX-listed companies.
Get breaking news
Melissa Coade
