Archer Capital
{{Short description|Australian private equity investment firm}}
{{Use Australian English|date=June 2018}}
{{Use dmy dates|date=June 2018}}
{{Infobox company
|name = Archer Capital
|logo = Archer Capital logo.gif
|type = Proprietary limited company
|foundation = 1996
|founder =
|former_name = GS Private Equity
|predecessor = Byvest Management Buyout Group
|location = Sydney, Australia
|industry = Private Equity
|products = Private equity funds
|homepage = {{URL|https://www.archercapital.com.au/}}}}
Archer Capital is an Australian private equity investment firm based in Sydney. It was founded as GS Private Equity in 1996. Archer Capital hosts multiple investment funds which invest in businesses across a wide array of industries and sectors, specifically targeting mid-market leveraged buyouts in Australia and New Zealand.{{cite web|url=http://www.archercapital.com.au/about/our-focus|title=Our Focus|work=Archer Capital|accessdate=24 June 2018}}
The firm currently owns or co-owns a number of Australian and New Zealand companies including Allity and Craveable Brands. Previous investments include Australian Geographic, Dome, John West Foods, MYOB, Rebel, Supercars Championship and Repco.
Notable investments
File:Red Rooster Wagga Wagga.jpg outlet]]
File:V8 Supercar start 2011.jpg race in 2011]]
In 1998, the firm partnered with the then-management of Australian Geographic to purchase the business for A$50 million. It was later sold to a consortium including the Myer family.{{cite web|url=https://www.news.com.au/finance/markets/myer-family-back-on-map/news-story/da7333aa8f14fd19767f90c5ac627e79|first=Stephen|last=McMahon|work=News.com.au|title=Myer family back on map|date=17 March 2009|accessdate=24 June 2018}}
In 2000, Archer Capital gained a 50% stake in Dome coffeehouses, selling for A$20 million in 2003 to Navis.{{cite web|url=https://www.businessnews.com.au/Company/Dome-0|title=Dome - Business News|work=Business News|accessdate=24 June 2018}} In 2001, Archer was part of a consortium (paying A$30 million) which purchased Repco from Pacific Dunlop, publicly listing the company on the Australian Stock Exchange in 2003.{{cite web|url=https://www.smh.com.au/news/business/look-whos-buying-into-repco/2006/09/05/1157222131457.html|title=Look who's buying into Repco|date=6 September 2006|work=Sydney Morning Herald|accessdate=24 June 2018|first=Colin|last=Kruger}}
Archer Capital was involved in the purchase of John West Foods from Unilever in 2003. Archer divested a few years later.{{Cite web|date=2003-06-21|title=Fishing trip for Simplot lands a $140m catch|url=https://www.theage.com.au/national/fishing-trip-for-simplot-lands-a-140m-catch-20030621-gdvwx2.html|access-date=2020-09-02|website=The Age|language=en}}
In 2009, the company lead a A$450 million takeover of MYOB, taking the company private.{{cite web|url=https://www.itnews.com.au/news/myob-sold-for-12-billion-267576|title=MYOB sold for $1.2 billion|work=ITnews|date=22 August 2011|first=Liam|last=Tung|accessdate=24 June 2018}} It was sold two years later for A$1.1 billion to Bain Capital.
In 2011, Archer acquired Quick Service Restaurant Holdings (renamed Craveable Brands in 2017) for A$450 million from Quadrant Private Equity, which holds 620 Australian-owned Red Rooster, Chicken Treat and Oporto fast food restaurants.{{cite web|url=https://www.reuters.com/article/archer-acquisition/update-1-australias-archer-buys-fast-food-chain-for-a450-mln-idUSL3E7HD2WO20110613|title=UPDATE 1-Australia's Archer buys fast food chain for A$450 mln|work=Reuters|accessdate=20 May 2018|date=14 June 2011|first=Victoria|last=Thieberger}} In the same year it also became a major investor in the Supercars Championship.{{cite news | url=http://www.speedcafe.com.au/2011/05/17/v8-supercars-confirm-new-ownership-structure/ | title=V8 Supercars confirm new ownership structure | work=Speedcafe| date=17 May 2011 | accessdate=23 March 2013 | url-status=dead | archiveurl=https://web.archive.org/web/20130625120006/http://www.speedcafe.com.au/2011/05/17/v8-supercars-confirm-new-ownership-structure/ | archivedate=25 June 2013 | df=dmy-all }}[https://autoaction.com.au/2019/01/04/v8-boss-dismisses-new-sale-rumour V8 boss dismisses new sale rumour] Auto Action 4 January 2019
In 2013, Archer purchased 30 aged care facilities from Lendlease, forming provider Allity.{{cite web|url=https://www.villages.com.au/info-centre/post/news/allity-sale-put-on-hold-after-share-market-collapse|title=Allity sale put on hold after share market collapse|date=22 September 2016|work=Villages.com.au|accessdate=24 June 2018}} It has subsequently grown to be one of the largest care providers in Australia.{{cite web|url=http://www.smh.com.au/business/property/age-of-change-as-big-players-expand-in-aged-care-sector-20150623-ghvf36.html}|title=Age of change as big players expand in aged care sector|date=23 June 2015|accessdate=24 June 2018|work=Sydney Morning Herald}}
Funds
Archer Capital has operated a total of 5 individual funds.{{cite web|url=http://www.archercapital.com.au/about/history|title=Archer Capital History|work=Archer Capital|accessdate=24 June 2018}}
| class="wikitable" | ||
| Fund | Year established | Capital (A$b) |
|---|---|---|
| Archer Capital Fund No. 1 | 1998 | $0.104 |
| Archer Capital Fund No. 2 | 2001 | $0.192 |
| Archer Capital Fund No. 3 | 2004 | $0.45 |
| Archer Capital Fund No. 4 | 2007 | $1.36 |
| Archer Capital Fund No. 5 | 2011 | $1.5 |
References
{{reflist}}