BUYOUT BRINGS BARTERCARD HQ BACK HOME

Written on the 24 March 2012

BUYOUT BRINGS BARTERCARD HQ BACK HOME

BARTERCARD Australia (BA) has bought out the majority stakeholder of its London-based parent company.

Co-founder Wayne Sharpe sold his 60 per cent share of Bartercard Limited (UK) to fellow co-founder Brian Hall (pictured) and BA directors Trevor Deitz and Tony Wiese.

The deal will bring the company’s head office back to the Gold Coast. Financial details of the buyout were not released.

“We have gone from being a franchisee to being the franchisor,’’ says chairman Murray D’Almeida.

He says the move will improve distribution and trade opportunities for BA’s 20,000-plus members.

International travel and trade transactions account for only 5 to 10 per cent of company operations, but that is now expected to grow significantly.

“This is a very positive step for everyone,’’ says D’Almeida.

”It will allow the business to be more responsive and provide easier international transaction opportunities for our members on a much more seamless basis.’’

Bartercard was founded by Andrew Federowsky, Hall and Sharp on the Gold Coast in 1991.

The company has 55,000 international business members trading more than $1 billion a year in six countries.

Hall led a management buyout of Bartercard Australia for $25.5 million in August 2007, just a month after the international arm of the business was privatised.

Sharpe says he will focus on developing a new Sydney-based carbon trading company, Carbon Trade Exchange (CTX).


Latest News

CROMWELL TRADES STEADILY IN FIRST HALF

CROMWELL Property Group has maintained a steady operating profit at $0.045 per security in the first half of FY17,...

WHY NEXTDC'S STOCK IS SOARING

AFTER posting its interim result, NEXTDC (ASX: NXT) gained more than 12 per cent on the stock market before noon.
...

PWR PROFIT CRASHES AS DOLLAR RISES AND COSTS MOUNT

A RISING Aussie dollar has offset PWR Holdings Limited's (ASX:PWH) overseas growth in the last half, forcing a...

SUPER RETAIL GROUP RESULTS SHINE ACROSS THE BOARD

A WELL-planned and executed half has paid off for Super Retail Group (ASX:SUL) as it posts a net profit result up ...

Related News

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter