Street Talk

It turns out Quadrant isn’t quite done with employment group APM

Sarah Thompson, Kanika Sood and Emma Rapaport

Jul 28, 2024 – 12.34pm

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APM’s exit from the ASX has been a protracted one, with several twists and plenty of private equity interest. Still, it has accepted a $1.33 billion takeover offer from Chicago’s Madison Dearborn Capital Partner and intends to slip off the bourse if shareholders agree to the deal in September.

But not without one more twist – the emergence of Quadrant Private Equity. The Australian buyout giant had been a major APM shareholder between 2017 and 2020, and is now providing equity through Madison Dearborn’s selldown.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.