Primo Smallgoods gets a boost from Affinity

The Prosperity Advisers Transactions team has been hard at work driving one of Australia’s largest capital transactions throughout 2012, and now, we are pleased to celebrate Primo Smallgood’s success.

Prosperity have acted as Central Advisers to the owners of Primo Smallgoods as they have sought capital and sold a significant stake in their business to Affinity Equity Partners at the tail end of 2011.  With Primos’s enterprise value reported to be in the order of $1 billion, the transaction was a remarkable coup for the owners in a difficult capital markets environment and one Prosperity Advisers is proud to have been involved in.

Primo is one of the great stories of an Australian family creating an enduring and iconic brand across three generations.  They are Australia’s leading manufacturer of small goods with their products finding a place in most Australian fridges.

“The group has an impeccable record of growth, and this new capital allows the business to enter a significant phase of opportunity with the construction of a major new factory,” said Stephen Cribb, Director and head of the Transaction team.

“In the case of Primo Smallgoods, a four track process was conducted because of the volatility of capital markets.  Our process involved simultaneous work on a potential IPO, trade sale, external private equity and “in-house” private equity arrangements through syndicated borrowing,” Stephen said .

Prosperity Advisers have been there through every step, working closely with shareholders, management and panel advisers to help balance the competing objectives of raising fresh capital for new investment and reducing shareholder portfolio risk.

About Stephen Cribb

Stephen is a Director of Prosperity Advisers and one of Australia's leading Growth and Taxation Advisers.

Over his career, Stephen has managed an array of large corporate transactions, held a number of senior tax roles within the ‘Big 4’ accounting firms, and guided the growth of many many businesses.

Stephen has the expert ability to analyse and understand the complex taxation needs of his clients and design and deliver development programs that achieve the required business improvements. Stephen’s approach is to break down and simplify complex business and tax issues to frameworks that clients can understand and implement.

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