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.
Debt capital markets proceeds up
Debt capital markets proceeds for Australia increased more than 16 per cent in 2024 compared to the previous year as corporates became more confident that inflation was being reined in.
Jarden to lobby for joint Australia-NZ share trading index
Growing concerns about liquidity on the Australia and New Zealand stock exchanges have prompted plans to lobby governments for a combined trans-Tasman share trading index.