Quadrant fires up Barbeques Galore sale as E&P eyes trade buyers
The sizzle of Barbeques Galore's sale process is attracting trade players from offshore.
The sale process for Quadrant Private Equity-backed Barbeques Galore is still sizzling, with advisors E&P Financial Group seeing more interest from strategic buyers this time around.
Quadrant has been looking to offload the barbeque, outdoor furniture and wood heater retailer for some time. Quadrant bailed out Barbeques Galore and Super A-Mart in a common ownership deal with Ironbridge Capital for around $500 million in 2016.
The Australian reported that Quadrant had appointed E&P to advise on a sale in June.
Several private equity funds have passed on entering the data room after previous unsuccessful attempts from Miles Advisory and Greenstone to drum up interest, with worries about future growth in the company front of mind, according to sources involved in the process.
