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Quote of the Week: Confrontations with White Knights

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March 12, 2015

“The PEP team first showed up like a bunch of white knights and were very impressive … then they promptly turned hostile, which was quite confronting. But since then, the relationship has been a big success for us, them, and our other shareholders…”

 

Who said it: Greg Pritchard, Managing Director Energy Development

 

In Context: A rare first-hand account of what happens when a PE firm buys into a mid-cap listed company. At a private equity event in Sydney, Pritchard described the mutual learning curve and value creation possible in such a partnership. He said that the investor, Pacific Equity Partners, provided “expertise” that was vital in growing the business from a market capitalization of USD 400 million to more than USD 1.2 billion with more growth to come but they also needed to learn about maintaining the standards for governance and transparency required of a listed company even if it is majority owned by private equity. (Image source: Energy Developments)

 

Where we found it: Sydney Morning Herald

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