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Next Capital advised on acquisition of online comparison business
Next Capital has been advised on its acquisition of online comparison business, Compare Club.
Jess Feyder
Firm: Corrs Chambers Westgarth (Next Capital)
Value: Over $100 million
Area: Corporate
Key players: The Corrs team was led by partners Glen Sauer, John Mosley, Steven Rice, James North and Stephen Price.
The team tapped expertise from across Corrs’ corporate, banking and finance, financial services, intellectual property, information technology and employment practices.
Deal significance: The acquisition looks like a play on the rising costs of living in Australia, putting pressure on households, and causing them to think about saving money on major bills.
Compare Club is a comparison website and broking service that helps consumers decide between insurers, mortgage providers and energy providers.
Compare Club told listed equities investors it would make about $20 million EBITDA in the 2022 financial year.
The acquirer, Next Capital, is a leading independent Australian private equity firm specialising in providing buyout funding for small- to medium-growth businesses, typically valued between $50 million and $200 million.
Next Capital installed founding partner Patrick Elliott on the company’s board.
Commenting on the matter, Mr Sauer said: “We are pleased to advise Next Capital on their latest investment from Next Capital Fund IV, after assisting with their recent Eptec and JUCY Car Rental investments.
“We look forward to working with Next Capital and the Compare Club team as the business grows and helps more Australians with their most important spending decisions.”
