Aurizon welcomes positive vote on Queensland Train Crew and Transport Operations Enterprise Agreement
Update on Queensland Enterprise Agreements
Aurizon renews coal haulage contract for Dawson and Callide Mines with Anglo American and Mitsui
Aurizon uses drones to inspect rail assets
Aurizon welcomes Fair Work Commission decision to terminate Enterprise Agreements
Aurizon welcomes SIMTA and MIC Moorebank agreement
Aurizon reaches in principle agreement with unions on train crew EA
Aurizon welcomes positive vote on Queensland Construction and Maintenance Enterprise Agreement
Aurizon sets up Perth hub
Aurizon chief Lance Hockridge not done shaking up rail giant
Mid-tier Australian private equity firms including Pacific Equity Partners are believed to have been sizing up Aurizon’s rail maintenance business that it has up for sale through advisory firm Gresham.
It is understood PEP had an initial look at the operation more than a month ago and may show some interest for its Secure Assets Fund.
The business is one that provides rail track maintenance and one of the key risks for any buyer of the business is customer concentration.
It is also one thought to be capital-intensive, generating no more than $30 million of earnings before interest, tax, depreciation and amortisation.
While buyout funds are eager to put money to work, many may shy away from the asset after less than successful experiences in the past investing in the mining services space.
PEP made its first acquisition for its Secure Asset Fund in May, securing Origin Energy’s smart metering business Acumen for its intelliHUB joint venture with Landis+Gyr.
Yesterday, PEP announced it had purchased New Zealand smart metering business Metrix from Mercury NZ for $NZ270m ($256m) in a deal advised by Forsyth Barr, Russell McVeigh and Ernst and Young.
Working for Mercury was Flagstaff Partners and Chapman Tripp.
Metrix has an installed smart metering base of 460,000 in New Zealand, taking intelliHUB’s footprint to almost two million.
This article first appeared on www.theaustralian.com.au
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2019 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.