Alceon PE secures 70pc stake in defence contractor Shadbolt
Sydney mid-market specialist Alceon Private Equity is betting demand for naval fleets will remain strong, acquiring a majority stake in Victoria’s Shadbolt Group which has its name on every heavy navy shipbuild in Australia since the Anzac-class in 1993.
Street Talk can reveal Alceon signed a deal on Tuesday to acquire 70 per cent of Shadbolt from founder Warren Shadbolt, who will retain the rest and continue to provide strategic input at the board level. It has also tapped well-regarded defence adviser and a long-time Alceon associate Mark Stevens to chair Shadbolt’s board.
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