Fletcher Building’s Tradelink has attracted a big American turnaround specialist keen to extract operational efficiencies from the No.2 player in the trans-Tasman plumbing and bathroom supplies market.
Street Talk understands Los Angeles-based private equity firm Pacific Avenue Capital Partners – which was set up by a bunch of former Platinum Equity operatives –has thrown its hat in the ring, submitting a non-binding indicative bid for Tradelink.
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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
