Here’s a deal to rev up a dull market. LMCT+ Group, the promotions and giveaway business run by Melbourne social media identity Adrian Portelli, is up for sale and has told potential buyers it’s making a jaw-dropping $50 million at the earnings line.
Portelli’s online showcase is full of Lamborghinis, yachts and luxury apartments. But behind the flashy lifestyle, there’s an entrepreneur who appears to be running a wildly successful business with revenues of some $60 million a year.
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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. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
