Ironbridge Capital takes on Riviera

Written on the 30 November -1

GIC Special Investments Pty Ltd (GIC SI) has sold its stake in Riviera to a leading Australian independent private equity manager, Ironbridge Capital, in a transaction which valued the Riviera business in excess of $300 million.

GIC SI was one of the original investors involved in the Riviera management buyout in October 2002. All of the other original investors, including lead investor Gresham Private Equity and representatives of the management team, continue as ongoing shareholders in Riviera. GIC SI will retain an indirect interest in Riviera as it is also an investor in Ironbridge Capital Fund 1.

Ironbridge Capital managing partner Neil Broekhuizen led the original management buyout on behalf of Gresham Private Equity and GIC SI.

While he has since left Gresham to establish Ironbridge Capital, he has remained an active board member of Riviera from the outset.


Latest News

BELLAMY'S FINDS EXPORTING BABY FORMULA INTO CHINA IS NO CHILD'S PLAY

BELLAMY'S (ASX: BAL) shares have suffered a 40 per cent drop in value today after the company hit a regulatory...

BRISBANE WATCH BRAND ADINA AIMS FOR ICONIC

ADINA watches is at a turning point in its history, 45 years after being founded by Robert 'Bob' Menzies i...

WHY YOU SHOULD CARE FOR YOUR BODY AS MUCH AS YOUR BUSINESS

ENTREPRENEURSHIP is a busy business. It can be all-consuming, but it is important not to neglect your health Y...

BULLETS BACK IN THE BUSINESS COMMUNITY

ALTHOUGH new to the current south-east Queensland sporting landscape, the Brisbane Bullets have a rich basketball ...

Related News

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

BIG W CEO QUITS AFTER 11 MONTHS

SALLY MacDonald has resigned as chief executive of BIG W ending her tenure at the helm of the struggling discount ...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter