Marand supplies sophisticated engineering solutions to the defence, aerospace, rail, automotive and mining sectors. Its customer base is predominately multinational blue chip organisations including Lockheed Martin, Boeing, BAE Systems, BHP and Rio Tinto, for which it designs and manufactures complex innovative solutions.
“My father Andy Ellul founded Marand in 1969 and last week we were delighted to celebrate the company’s 50th anniversary,” said David Ellul, Executive Chairman of Marand.
“Over five decades, Marand has evolved from a machine tools and equipment supplier to the automotive industry to being recognised as Australia’s leading precision engineering company and Australia’s largest supplier into the F-35 Joint Strike Fighter program. We consider CHAMP a fantastic custodian of the business, who will help ensure Marand maintains its innovative culture and reaches its full potential.”
“While the terms of the transaction remain confidential, the Ellul family retains an investment in the business,” he said.
Rohan Stocker, CEO of Marand said, “This is a wonderful opportunity to facilitate further growth in the business. Marand’s innovative engineering, advanced manufacturing and sustainment capabilities will continue to add value to our customers and we are excited by the prospect of working with CHAMP to take the business to the next stage in its development”.
The CHAMP Group is one of Australia’s most experienced private equity managers, having first raised institutional capital more than 30 years ago. Since that time, CHAMP has made more than 90 investments and deployed more than A$3.7 billion in equity capital. CHAMP has one of the largest dedicated investment teams in the country. The investment will sit within the CHAMP IV Fund, alongside companies including Cell Care, Gourmet Food, StraitNZ and Dutton Garage.
The agreement is subject to regulatory and other customary approvals.
KPMG Corporate Finance acted as corporate advisers to Marand and the Ellul family, alongside Gadens Legal and Dobbyn and Carafa.
For further information on Marand, visit www.marand.com.au
Media Contact – Marand
Alex Lyon Marand
Business Development Manager
+61 417 384 223
Media Contact – CHAMP
+61 419 888 831