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CPE Capital, Portfolio Company Announcement

CPE Capital (CPEC) has sold its 100% interest in Gourmet Food Group (GFG) to Mondelez International. The global packaged food business, which is listed on the NASDAQ with a market capitalisation of US$75 billion, purchased GFG for A$454 million. 

In less than three years under our ownership, GFG grew EBITDA organically from A$17m to A$41m. This growth has come from the successful implementation of several initiatives, including:

  • new product development and category expansion;
  • doubling manufacturing capacity;
  • doubling of employees, with several key operational and finance hires, including COO and CFO;
  • significantly improved OH&S compliance procedures and financial reporting; and
  • material reductions in energy emissions.


CPEC looks forward to watching the continued success of the Gourmet Food brands under the ownership of Mondelez International.

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Portfolio Company Announcement
 

Marand Precision Engineering (“Marand”) has been recognised for its outstanding export achievements at the 57th Australian Export Awards, where it won the award in the category of Manufacturing and Advanced Materials. Marand is a leading global supplier of precision engineered solutions to the defence, aerospace, rail, automotive and mining sectors.

 

The Australian Export Awards is a national program which recognises remarkable Australian companies that are engaged in international business and have achieved sustainable growth through innovation and commitment. The Awards measure businesses against their peers based on the strength of their international growth, marketing and financial strategies.

 

The event was hosted by the Minister for Trade, Tourism and Investment, the Hon Simon Birmingham. Senator Birmingham presented the award to CEO Rohan Stocker in the Great Hall at Parliament House Canberra.

 

“This is wonderful recognition for many years of hard work”, said Rohan Stocker, Marand CEO. “Our company is a proud engineering, manufacturing and sustainment business. We love exporting and connecting internationally to great companies like Lockheed Martin and BAE Systems. We also enjoy being an enabler for export, developing technology and engineering solutions for the likes of Boeing, Rio Tinto, BHP, and Carbon Revolution”.

 

Marand is the largest Australian supplier on the F-35 Lightning II Joint Strike Fighter (“JSF”) program. It is responsible for building 722 vertical tail sets for the JSF program, and is the global sole source provider of the F-35 engine removal and installation trailer.

 

“This is a very, very well-deserved recognition for an Australian business that is a real shining star in our defence industry”, said the Hon Melissa Price MP, the Minister for Defence Industry.

 

Marand was acquired by funds managed by CPE Capital in June 2019. CPE Capital, alongside Marand, is building an integrated precision engineered products, solutions and sustainment company to support the Australian aerospace and defence industry and to better service global customers.

 

 

Find out more about Marand by visiting our portfolio page.

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Portfolio Company Announcement

Australian F-35 supplier Marand Precision Engineering has been named a top Victorian exporter, at the Governor of Victoria Export Awards. Marand won the award for Manufacturing and Advanced Materials, in part for its contribution to global defence projects such as Lockheed Martin’s F-35.

The Governor of Victoria Export Awards (GOVEA) is the most prestigious export award in Victoria, split across thirteen categories. The GOVEAs reward the state’s most effective, pioneering, and advanced exporters by granting significant recognition for outstanding work. 

“The 2019 Governor of Victoria Export Awards are a great reminder of the strength and success of Victorian exporters,” said The Honorable Linda Dessau AC, Governor of Victoria. 

“We are so proud of everyone who has put in the work over such a long period of time,” said Marand CEO Rohan Stocker, who collected the award at the National Gallery of Victoria.

He went on to add, “our company is passionately Australian, and at the same time we love exporting and connecting internationally to great companies like Lockheed Martin. Teamwork is at the core of what we do, and this award is an emblem of that. We also want to thank the Victorian State Government and the Australian Government for their constant support and belief in us as an Australian business.”

Joe North, Chief Executive for Lockheed Martin Australia and New Zealand, congratulated Marand on the prestigious award. 

“As the platform original equipment manufacturer and lead sustainment partner for the F-35 globally, we are proud to work with our Australian suppliers, like Marand, to deliver enhanced sovereign defence capability and security for our nation”.  

“Lockheed Martin and Marand have been great partners on the F-35 Program, and we look forward to continuing this relationship into the future.” 

 

Find out more about Marand by visiting our portfolio page.

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Portfolio Company Announcement

Leading South Australian supplier of precision components and assemblies for the defence and commercial aerospace industries, Levett Engineering Pty Ltd (Levett), today announced that it had reached an agreement to sell the business to ASDAM, an Australian sovereign defence and advanced manufacturing company owned by funds managed by CPE Capital (formerly CHAMP Private Equity).

 

Levett provides machining, assembly and inspection of a range of complex components for clients in the aerospace and defence industry. It has built long term relationships with a number of defence prime contractors, including Lockheed Martin, L3Harris, Pratt & Whitney, BAE Systems, Northrop Grumman and Boeing.

 

Levett will join Marand Precision Engineering, a supplier of precision engineered solutions to the defence, aerospace, rail and mining sectors, which was acquired by CPE Capital in June 2019, in the ASDAM group. CPE Capital is building an integrated precision engineered products, solutions and sustainment company to support the Australian defence and aerospace industry and to better service its global defence and aerospace customers.

 

Paul Levett, founder and owner of Levett said, “I’m incredibly proud of what the team at Levett has achieved since its founding in 1989. The acquisition by CPE Capital’s Australian defence portfolio company will provide the capacity and capability to better service our existing clients in the Joint Strike Fighter Program, and create the platform to service new clients in different domains and programs.”

 

Steve Sargent, Chairman of ASDAM said, “We were impressed by Levett’s breadth and depth of client relationships, and believe their expertise in precision components will be highly complementary to Marand and ASDAM. We look forward to Levett joining the ASDAM group and growing our presence in South Australia.”

 

Levett will continue to operate in Adelaide, South Australia, but will be able to utilise the combined capabilities of Marand in the ASDAM group to provide a wide range of solutions for defence customers.

 

CPE Capital and its affiliated fund entities have deployed approximately A$3.8 billion of investor commitments since 1987. CPE Capital has one of the largest dedicated buyout teams in Australia and is the most experienced Australian headquartered private capital manager, having made 75 platform investments during its 32 year history. CPE Capital undertakes control buyout transactions, enters into founder partnerships and provides growth investments for mid-market companies in Australasia, including those which possess significant offshore operations or ambitions.

 

The agreement is subject to regulatory and other customary approvals.

 


Find out more about Levett Engineering or Marand by visiting the Levett website or our portfolio page.

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Portfolio Company Announcement
MEO is pleased to be participating in the Gallaf project via the provision of three sets of 330 x 120 feet flat top barges and pairing tugs. 

The Gallaf project is part of a five year development plan in the Al Shaheen field in Qatar. Approximately 80 kilometres offshore, the Al Shaheen field is the largest oil field in the country and accounts for some 45% of oil produced in the country.

The Gallaf Project is one of our many projects in Qatar, executed safely under the MEO Group’s mission of operational excellence.

Find out more about MEO by visiting our portfolio page.
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Portfolio Company Announcement

Axieo has commenced distributing Puratos’ chocolates and compounds in the Australian industrial market and all New Zealand markets.

 

Puratos is a leading global food business, focused on providing innovative ingredients and solutions for the bakery, patisserie and chocolate markets.


Recognised as ‘the real belgian chocolate’, Puratos’ Belcolade range offers a broad selection of premium grade Belgian chocolates.


The Chocolanté range utilises a global network of chocolate factories to support their markets, and the Carat range offers versatile and affordable compounds and fillings.

All brands are expertly crafted from selected ingredients to achieve a delicious result.

In addition to expanding its range of chocolates and compounds, Axieo will also be increasing its range of cocoa products in the coming months.

Visit our portfolio page to find out more about Axieo.

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Portfolio Company Announcement
Shelf Drilling, Ltd. (“Shelf Drilling” or the “Company”, OSE: SHLF) announced today that it has secured a three-year contract for the High Island V jack-up rig. This is a direct continuation of its current contract with the same customer.

The expected availability of the rig is now March 2022.

About Shelf Drilling

Shelf Drilling is a leading international shallow water offshore drilling contractor. It has rig operations across Middle East, Southeast Asia, India, West Africa and the Mediterranean. Shelf Drilling was founded in 2012 and has established itself as a leader within its industry through its fit-for-purpose strategy and close working relationship with industry leading clients. The company is incorporated under the laws of the Cayman Islands with corporate headquarters in Dubai, United Arab Emirates. The company is listed on the Oslo Stock Exchange under the ticker “SHLF”.

Additional information about Shelf Drilling can be found at www.shelfdrilling.com
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Portfolio Company Announcement

Axieo is widely known as the distributor of choice for many of the worlds’ leading chemical, raw material and functional ingredient producers.


Not only do we represent the best suppliers through our agency and distribution business, we are also experts in our own right and we have a long and proven history of developing and manufacturing our own branded surfactants and esters.


To bring this portfolio to our customers and showcase our expertise, we proudly introduce Aximul – Axieo’s own brand emulsifiers. This is the first product group to launch under the Axieo Brands range.


Aximul emulsifiers consist of high quality, functional emulsifiers for various applications including:


  • Agriculture
  • Cleaning
  • Food
  • Personal
  • Mining

Our proven expertise in emulsifier chemistry is showcased in the strength, diversity and quality of the Aximul portfolio. We look forward to introducing you to our range over the coming months.


Find out more: www.axieo.com

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Portfolio Company Announcement
Axieo is proud to announce our ANZ partnership with Nascent Health Sciences – the World’s Number 1 manufacturer of Stevia. Stevia, a natural, plant derived intense sweetener, is used to reduce or replace sugar in food and beverage applications.

Nascent’s SoPure stevia range includes high purity extracts of the seven most abundant glycosides, including Reb A, C, D and M. Nascent are also uniquely positioned to offer Organic Certified Stevia to our market.

Sugar reduction is a global trend, attracting an increasing focus from health organisations, Government bodies and consumers. Axieo is excited to offer our clients solutions around calorie and cost reduction.

Our team are ready to offer formulation guidance and support across a range of applications including beverages, bakery, confectionery and desserts.

Find out more: www.axieo.com
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CPE Capital, Portfolio Company Announcement
2018 AVCAL Annual Awards Recognise the Industry’s Best.

CHAMP Private Equity wins the award for the “Best Upper Mid-Cap Investment between $250 million and $500 million” for their investment in Accolade Wines.

At the industry’s 25th anniversary marquee annual event, the Australian Private Equity and Venture Capital Association Limited (AVCAL) handed out awards to a number of outstanding firms and industry leaders.

“The private capital investment industry in Australia plays a significant role in growing businesses, creating new jobs, and nurturing a more innovative and dynamic Australian economy, these awards recognise the contributions that make that happen, said AVCAL Chief Executive, Mr Yasser El-Ansary.

More than 450 of the private capital industry’s leaders are gathered at the annual AVCAL Conference this year, with the awards event concluding two days of thought-provoking discussion and debate about the big issues which will shape the future of Australia, and global financial services markets over the next decade.

“When you bring the power of our collective industry together, you see very clearly the potential for private capital investors to drive big shifts in the economy in areas such as energy, healthcare and data,” added Mr El-Ansary.

Award winners in a number of categories were celebrated at tonight’s event, including a number of special awards for industry pioneers who have played a role in growing private capital in Australia over the past 25 years.

“All of the award winners are leaders who have demonstrated exceptional investment execution strategy through the work they have done to grow and expand good businesses, transforming them into great businesses,” said Mr El-Ansary.
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