Street Talk

Platinum Equity stalks Carlyle Group’s Accolade Wines

Sarah Thompson, Kanika Sood and Emma Rapaport

Aug 2, 2023 – 7.18pm

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As Australia’s second-largest wine group and its advisers bunker down on what’s expected to be a protracted recapitalisation process, Street Talk understands American buyout group Platinum Equity is getting its ducks in a row.

Accolade Wines, backed by private equity giant The Carlyle Group, is sitting on a mountain of debt, including a £301 million ($585 million) Term Loan B due in early June 2025 and a $150 million revolving credit facility that matures in early June 2024, Bloomberg data shows. Its lenders include Bain & Company, Intermediate Capital Group and Investcorp.

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

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au

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