Bridgeport Capital is pleased to announce that it has acquired 100% of the share capital in Hawkesbridge Private Equity, a private equity fund manager currently managing over $200m in private equity funds on behalf of institutional and high net worth investors.
Bridgeport Capital was founded by Managing Directors David Plumridge and Brendan Sulway in 2015. Bridgeport Capital is a leading Australian mid-market private equity fund manager, providing capital to Australian and New Zealand based companies with EBITDA typically ranging between $5m and $30m. Bridgeport Capital is currently actively seeking new acquisition opportunities.
Recent Bridgeport Capital transactions include:
The current Hawkesbridge Private Equity portfolio of assets will be managed by Bridgeport Capital. This portfolio of assets includes:
The Bridgeport Managing Directors are joined at the executive level by Mark Lewis (Finance Director) and Sue Rosen (CFO). All other Hawkesbridge Private Equity staff will join the Bridgeport Capital team.
Bridgeport Capital has teamed up with management to acquire Underground Cable Systems (“UCS”) in a deal worth over $100m.
Established in 1995, UCS specialises in the design, installation and cable jointing of underground electricity distribution networks that require high levels of accreditation.
Executive Director Niel Towan and Managing Director Richard Twisk will lead the business through the next phase of growth.
“We were attracted to UCS because of its dominant market positioning and the visible and repeatable nature of the revenue pipeline” said Bridgeport Capital Managing Director Brendan Sulway. “UCS is positioning itself to capitalise on the deregulation of the NSW electricity market” said Mr Sulway, “The newly enacted renewable energy target will also provide strong growth prospects for UCS”.
Bridgeport Capital was advised on the transaction by Gilbert & Tobin, PwC and Marchment Hill. UCS was advised on the transaction by KPMG Corporate Finance and Corrs Chambers Westgarth.
Bridgeport Capital is seeking to invest into Australian businesses with earnings before interest and tax of greater than $5m. Bridgeport Capital invests in three types of transactions: succession funding for business owners, management buyouts and growth capital.
The Bridgeport Capital team will continue to manage the current Hawkesbridge Capital portfolio which currently includes Trippas White Group, Bulk Handling Australia and Australian Beverage Holdings.