Pacific Equity Partners
Pacific Equity Partners (PEP) is an Australasian private equity investment firm focusing on leveraged buyout and growth capital transactions primarily in Australia and New Zealand. PEP invests across a broad array of industries and will invest in turnaround and growth capital transactions. PEP is based in Sydney, Australia and was founded in 1998 by Simon Pillar, Rickard Gardell, Paul McCullagh and Tim Sims. The majority of the firm's founders originally worked together at consulting firm Bain & Company. The firm has raised more than AUD 8 billion across five funds since its founding and is the largest  PE firm in Australia. PEP has approximately AUD 3.9 billion of capital under management, making it the largest PE firm in Australia and among the 50 largest private equity firms globally. Investments. PEP has made more than 30 operating company investments as well as 100 bolt-on acquisitions since its founding. Among the firm's historical investments are Hoyts (sold to Wanda Cinemas in 2015), REDgroup Retail (Angus & Robertson, Whitcoulls, Borders Pacific Region, defunct in 2011), Independent Liquor (sold to Asahi Breweries in 2011), Godfreys, Griffin's Foods (acquired from Danone in 2006 and sold to Universal Robina in 2014 ), Frucor (sold to Suntory in 2008), Peters Ice Cream (sold to Froneri in 2014) and Tegel Foods (acquired in 2005 from Heinz and sold to Affinity Equity Partners in 2011). Some of the firm’s current investments include Patties Foods, iNova Pharmaceuticals, medical devices group LifeHealthcare, smart metering company IntelliHUB, and Evolution Healthcare. More recently, PEP made two further acquisitions toward the end of 2019. It purchased the Asia-Pacific segment of NYSE-listed towing and trailering equipment manufacturer Horizon Global and it also acquired community energy network provider WINconnect from private operators. WINconnect is the third deal for the  firm’s Secure Assets Fund. PEP has also successfully exited some major investments. The firm realised a strong return from the sale of New Zealand honey supplier Manuka Health which it exited in 2018 for $NZ300 million. PEP first purchased Manuka in 2015 and made key changes including expanding the company’s operations and leading an industry reform to standardise honey grades, allowing better transparency on quality and reducing counterfeiting. This work gained industry recognition in 2018 for quality management and responsible investing. Other recent investment exits include the sale of Allied Pinnacle to Japan’s Nissin Foods in  February 2019 and the exit of NZ private education provider ACG in late 2018.