Seven Group Holdings
{{Short description|Australian company}}
{{Use dmy dates|date=January 2021}}
{{Use Australian English|date=January 2012}}
{{Infobox company
| name = SGH Ltd
| logo = Seven Group Holdings logo.jpg
| caption =
| type = Public
| traded_as = {{ubl|{{ASX|SGH}}|S&P/ASX 100 component}}
| industry = Media, Mining, Construction, Equipment rental
| predecessor = Qintex
Seven Network Limited
| foundation = {{sda|1991}}
| founder = Kerry Stokes (executive chairman)
| location_city = 175 Liverpool Street, Sydney
| location_country = Australia
| locations =
| area_served = Worldwide
| key_people = Ryan Stokes (CEO)
Warwick Smith (director)
| production =
| services =
| revenue =
| operating_income =
| net_income =
| assets =
| equity =
| owner = Australian Capital Equity (68%){{cite news |last1=Evans |first1=Michael |title=Revealed: Kerry Stokes's $100m land bonanza |url=https://www.smh.com.au/business/revealed-kerry-stokess-100m-land-bonanza-20100317-qfr9.html |accessdate=24 October 2019 |work=The Sydney Morning Herald |date=17 March 2010 |language=en}}
| num_employees =
| parent =
| divisions =
| subsid = {{Unbulleted list|Boral|Coates Hire|WesTrac|Seven West Media (40%)|Beach Energy (29%)}}
| homepage = {{URL|sghl.com.au}}
}}
SGH Ltd (formerly Seven Group Holdings) is an Australian diversified operating company, with businesses across industrial services, energy, and media.{{Cite web |title=Introduction » SGH Ltd |url=https://sghl.com.au/who-we-are/introduction |access-date=2024-11-17 |website=sghl.com.au}}
History
Seven Network Limited was created in 1991 by receivers in order to bundle together the assets of Christopher Skase's collapsed former business, Qintex.{{cite news |last1=Bartholomeusz |first1=Stephen |title=Kerry Stokes thumbs a well-worn playbook for '$8 billion' Boral bid |url=https://www.theage.com.au/business/companies/kerry-stokes-thumbs-a-well-worn-playbook-for-8-billion-boral-bid-20210511-p57qt5.html |work=The Age |date=11 May 2021 |language=en}}{{cite web |last1=Release |first1=Press |title=Seven Group Holdings Limited (formerly Seven Network Limited) |url=https://newsnreleases.com/2020/11/08/seven-group-holdings-limited-formerly-seven-network-limited/ |website=NewsnReleases |date=8 November 2020}}
Between 1995 and April 2001, Alan Jackson of Nylex was the non-executive director of Seven, after being asked by Stokes to lead the company.{{cite news |id={{ProQuest|358640428}} |title=Jackson off Seven board |newspaper=The Daily Telegraph|date=26 June 2001 |page=27 }}{{cite web| url = https://www.maynereport.com/articles/2008/01/07-1244-7088.html| title = The day Alan Jackson lost his cool| first = Stephen| last = Mayne | author-link= Stephen Mayne| date = 14 January 2008| website = The Mayne Report| access-date = 16 January 2023}}
In 2002, Seven Media Group acquired Pacific Magazines. In January 2006, the company partnered with Yahoo! to launch Yahoo!7, a cross-media entity meant to expand the content distribution networks of both companies.
In December 2006, Seven Network Limited shareholders voted to spin off the company's 'old media' assets into a 50/50 joint venture with private equity firm KKR, creating the Seven Media Group.{{cite news |author= |title=Seven shareholders approve media spin off |url=https://www.theage.com.au/business/seven-shareholders-approve-media-spin-off-20061223-ge3uug.html |work=The Age|date=23 December 2006 |access-date=23 May 2019}}
In January 2008, Kerry Stokes' National Hire Group took over alongside private investors The Carlyle Group the equipment rental company Coates, de-listing it from the Australian Securities Exchange. The hire businesses of Coates and National Hire were merged to consolidate the two largest hire companies in Australia, creating Coates Hire.[http://www.nationalhire.com.au/Company.aspx Company Overview] National Hire Group[http://www.smh.com.au/business/seven-group-holdings-buys-out-coates-hire-20170920-gykxgc.html Seven Group Holdings Buys Out Coates Hire] Sydney Morning Herald 20 September 2017[https://www.australianmining.com.au/news/seven-group-pay-517m-control-coates-hire/ Seven Group to pay $517m for control of Coates Group] Australian Mining 20 September 2017[https://www.asx.com.au/asx/share-price-research/company/SVW Seven Group Holdings Annual General Meeting, ‘Strategy Execution - Acquisition of Coates Hire’, 16 November 2017] Australian Securities Exchange
On 22 February 2010, it was announced that WesTrac, owned by Australian Capital Equity, Kerry Stokes's investment firm, would merge with Seven Network Limited, and the combined entity was renamed Seven Group Holdings.{{cite news |author= |url=http://news.smh.com.au/breaking-news-business/seven-network-and-westrac-to-merge-20100222-oox8.html |title=Seven Network and WesTrac to merge |date=22 February 2010 |work=Sydney Morning Herald |accessdate=5 March 2012}}
On 25 October 2017, SGH acquired the remaining 53% of Coates from The Carlyle Group, as well as from other minority owners for $517 million. SGH had first invested in Coates, alongside The Carlyle Group and exiting management in 2008 through its WesTrac subsidiary.[https://www.asx.com.au/asxpdf/20170920/pdf/43mgjjvq4jw1d0.pdf Seven Group Holdings Coates Hire Acquisition] Australian Securities Exchange
In April 2011, Seven Media Group was acquired by West Australian Newspapers to create Seven West Media.{{cite news| url=http://www.theaustralian.com.au/business/media/kerry-stoked-by-creation-of-seven-west-media-giant/story-e6frg996-1226037459117 |first=Andrew |last=Burrell |title=Kerry stoked by creation of Seven West Media giant |date=12 April 2011 |work=The Australian}} SGH remains Seven West Media's largest shareholder, with a 40.2% stake.{{cite web |url=http://www.sevengroup.com.au/our-investments/seven-west-media |title=Our Investments: Seven West Media |author= |date=n.d. |website=SevenGroup.com.au |publisher=Seven Group Holdings Ltd. |access-date=23 May 2019}}
In July 2021, Seven Group Holdings took 70% ownership in construction materials company Boral.{{Cite web |last=Druce |first=Alex |date=2021-07-30 |title=Ryan Stokes named Boral chair, Seven ups board presence |url=https://www.smh.com.au/business/companies/ryan-stokes-named-boral-chair-seven-ups-board-presence-20210730-p58ebf.html |access-date=2024-07-11 |website=The Sydney Morning Herald |language=en}} It gained full ownership of Boral in July 2024.{{Cite web |last=Daunt |first=Adam |date=2024-07-04 |title=Seven Group Holdings speak about 'successful' Boral takeover |url=https://www.quarrymagazine.com/2024/07/04/seven-group-holdings-speak-about-successful-boral-takeover/ |access-date=2024-07-11 |website=Quarry |language=en-US}}
In November 2024, Seven Group Holdings changed its name to SGH Ltd, Its website domain to www.sghl.com.au, and its ASX ticker code to SGH.{{Cite web |title=SGH Ltd » SGH Ltd |url=https://sghl.com.au/ |access-date=2024-11-17 |website=sghl.com.au}}
References
{{reflist}}
External links
- [http://www.sevengroup.com.au/ Seven Group Holdings]
{{S&P/ASX 200}}
Category:Companies based in Sydney
Category:Companies listed on the Australian Securities Exchange
Category:Holding companies of Australia
Category:Holding companies established in 1956
Category:Mass media companies established in 1956
Category:Mass media companies of Australia