Thursday, 6 May 2010
Wingate structures and advises on Boost sale
You may have recently seen media coverage about the acquisition of a majority stake in the Boost Investment Group, owners of the Boost Juice Bars and Salsa’s Fresh Mex Grill, by The Riverside Company, a global private equity firm focussed on acquiring leading medium-sized businesses.
Wingate, as exclusive financial adviser to the Boost shareholders (Janine and Jeff Allis, Marc and Daniel Besen, Geoff Harris and Rod Young), was instrumental in originating, structuring and negotiating the deal, which is an excellent example of the role we take in assisting corporates, individuals and families to realise their aspirations.
Janine Allis, founder of the Boost Investment Group, said that “Boost has been an amazing journey over the last ten years, but there comes a time when you need to refresh and challenge yourself and also allow the business to fulfil its full potential”. Janine further added “the Wingate team not only initiated and executed the transaction in a professional and commercial manner but also delivered a partner, not just a buyer, that was a great fit for us”.
Stewart Kohl, the global Co–Chief Executive Officer of The Riverside Company, said (about Wingate), “thanks for introducing the Boost investment opportunity and for being fair, balanced and productive in your important role throughout the deal”. Simon Feiglin, Partner of The Riverside Company in Australia said "the Wingate team were consummate professionals, always seeking to find the proverbial win-win outcome. I look forward to working with them again".
For Wingate and the team involved, these are satisfying compliments. Having mutually happy parties is not something that is always easy to achieve and validates our proactive approach to doing business.
The transaction was negotiated during the height of the global financial crisis, which shows that even in difficult times, good deals can be done with insight, patience and willingness on both sides.
Not only does the deal endorse the attractiveness of Australia as an investment destination, but also demonstrates that advisory firms with deep and trusted relationships and a reputation for success, can help business owners reach their goals.
The Boost deal highlights Wingate’s global reach, introducing a US based private equity firm to one of Australia’s best known and fastest growing food retailers. Given Riverside’s exceptional track record they are an ideal partner to assist with Boost’s continued growth in Australia and internationally.
At Wingate we enjoy and are committed to helping listed corporates, private business owners and families achieve their aims. If we can be of assistance, or if you would like a general conversation about what options may be available to you and your business, please let us know.
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