Reuters: Private Equity: Australia's CHAMP sells logistics firm to McAleese

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Australia's CHAMP sells logistics firm to McAleese Apr 10th 2012, 02:34 MELBOURNE, April 10 | Mon Apr 9, 2012 10:34pm EDT MELBOURNE, April 10 (Reuters) - Australian private equity firm CHAMP Private Equity sold its transport logistics firm International Energy Services to privately owned transport group McAleese Group, a spokesman said on Tuesday. Terms of the deal were not disclosed, although local media have valued it at A$300 million. It was the latest trade sale for Australian private equity, with IPOs out of favour due to weak stock markets and poor receptions for other recent floats. CHAMP bought the group in January 2005 and expanded it into Singapore. McAleese, headed by former Asciano boss Mark Rowsthorn, bought all three IES divisions including fuel transport business Cootes Transport and IES Resources, which provides services to the mining sector.

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