Top 100 CEO Interviews
Issue No. 31 - October/November 2006
Fast-paced boom has Minter Ellison hustling
Fast-paced boom has Minter Ellison hustling
Minter Ellison says the SA business market is booming, with major economic activity in several different industries including private equity, mergers and acquisitions and mining and resources.
The firm's corporate and resources team have been working on legal deals, projects and activities such as the Harley-Davidson acquisition, capital raising for International Linen Services and new petroleum, minerals and iron ore companies being listed on the ASX and new uranium projects going ahead.
Succession has been a key issue recently. With a large proportion of the South Australian corporate community made up of family businesses, succession planning and viable 'exits' for founders and owners has driven a demand for private equity money.
"Senior managers are becoming much more aware that if they can attract the backing of private equity investors, their dream of one day owning their own business — often acquiring the business they're currently running from its current owners — is not as far fetched as they may have thought," says Gerry Cawson, head of Minter Ellison's private equity practice.
ANZ Capital's much-publicised backing of International Linen Services' management buy-out shows how private equity can fund succession of a family business.
"It's not just about buy out deals, though," Gerry says.
"With Terra Rossa Capital announcing its entry into backing SA life science businesses, Paragon Equity becoming more active in the investments it's making and Playford Capital still flying the flag for investments in the technology sector, there are many opportunities for businesses to fund their growth through private equity investments."
At the bigger end of town that there are still plenty of deals about, according to Brett Thorneycroft, head of Minter Ellison's mergers and acquisitions practice.
"A large number of these deals...
