KPMG advised Cater Care Pty Ltd on the sale of a minority interest (45 percent) to Champ Ventures.
We advised Cater Care Pty Ltd on the sale of a minority interest (45%) to Champ Ventures.
Cater Care Australia is a leading provider of contract catering, accommodation and facility management services to the remote and urban sectors in Australia, servicing healthcare, resources, education and other industries. It has grown organically through the strength of its leadership and brand reputation, and engaged KPMG to explore strategic options, including a partial sale of the business and growth capital, to support future opportunities available to the business.
“The KPMG deal team including Beau Dixon designed a bespoke process after pre-qualifying parties and clearly articulated the key business attributes and growth opportunities to optimally position the business, which delivered competitive tension to the process and a range of options for the Cater Care Australia shareholders to consider. KPMG’s assistance in negotiating the share sale and shareholders agreements were critical to the success of the transaction and ensured the delivery of an outcome that exceeded Cater Care Australia’s shareholder objectives”.
– Mark Fortugno
KPMG engaged on the opportunity with a number of pre-qualified potential partners including Champ Ventures and was instrumental in facilitating the receipt of multiple offers. KPMG Deal Advisory specialists, including mergers and acquisitions, transaction services, tax and debt advisory services, reviewed and prepared all key materials highlighting the business’ historical performance and strong platform to pursue growth opportunities. KPMG assisted in securing a financing package to support the incoming investment and future capital requirements of the business.
On 19 December 2014, the shareholders of Cater Care Australia divested a minority (45%) interest in the business to Champ Ventures following a KPMG assisted negotiation of key transaction documentation.