As life gradually starts to return to normal following COVID-19, investment bankers are dusting off the files of companies earlier earmarked for sale.
One that falls into that category is flower marketing company Lynch.
It is understood private equity firm Next Capital has its advisers out testing the waters as to whether it should revive attempts to divest the business, given its strong rebound in performance as trading restrictions put in place because of the coronavirus are relaxed.
Whether a sale gets off the ground largely depends on how quickly travel restrictions are eased, given that interest in the business is expected to come from Asian buyers as well as those in Australia.
Earnings before interest, tax, depreciation and amortisation are thought to be about $40m, which could put a price tag of as much as $400m on the business.
Stanton Road Partners and Citic-CLSA are advising on a sale of the business.
It is understood last year an Asian buyer showed an interest in Lynch, which prompted Next Capital to place it on the market. Lynch specialises in exporting wildflowers around the world.
Macquarie Asset Management on buying spree in New Zealand
Fresh from striking a $24bn deal to sell the Airtrunk data centre giant it co-owned, Macquarie Asset Management is understood to have turned its attention to New Zealand
Roc stays abreast of potential $1bn chicken play
Poultry business ProTen is on the block through its owner Aware Super and Roc Partners is in prime position to snap it up for up to $1bn.