Macquarie-led consortium to buy Potters Industries from TJC: Bloomberg
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The news: A group of investors, including UniSuper, led by Macquarie Group is set to buy infrastructure services business Potters Industries from private equity firm TJC, according to a sources cited by Bloomberg.
The numbers: The deal would value Potters at approximately USD1.1 billion ($1.69 billion).
The context: Bloomberg reports that Macquarie will acquire Potters via Macquarie Asset Management, alongside US-based Partners Capital and superannuation fund UniSuper, which will come in as co-investors.
Macquarie has been adding businesses that provide supplementary services and technology to infrastructure assets across North America and Europe to its portfolio. In February Macquarie took a majority stake in Dallas-based utility service provider DynaGrid Holdings.
“Our co-investment strategy is built around partnering with top-tier private equity firms where we can move with scale and certainty on high-quality opportunities,” Jennifer Fox Bensimon, a managing director at Partners Capital told Bloomberg in an emailed statement.
TJC bought Potters in 2020 and raised a USD390 million leveraged loan to support the acquisition.
The source: Bloomberg
