Thomson Geer Partner, Dan Kramer and Special Counsel, Lucinda Girdlestone have advised Anacacia Capital’s Anacacia Partnership 1 LP Fund on its disposal of its equity stake in RISsafety Enterprises Pty Ltd to Bricktop Funds Management Pty Ltd.
RISsafety was the last remaining investment in Anacacia Capital’s award winning Anacacia Partnership 1 LP Fund, with Anacacia having been the majority shareholder of RISsafety for more than seven years. During that time RISsafety grew to be one of Australia’s largest height safety and access companies, recently expanding into New Zealand.
The disposal to Bricktop Funds Management has not affected the management of RISsafety, wits its CEO and Chairman continuing to lead the business, meaning there has been no day to day change for staff, customers and suppliers.
Jeremy Samuel, Managing Director of Anacacia Capital, said: “This is a great outcome for the RISsafety team – staying independent and focused on its clients and with the support of investors that know the sector well. We wish all the RISsafety team the very best for the future.”
RISsafety CEO, Barry Johnson said “Anacacia Capital has been an incredibly supportive shareholder for RISsafety over seven years, there for us both in tough and good times. I have found their contribution as non-executive directors and shareholders to be invaluable in transforming RISsafety into a much stronger business and leaving us and the new shareholders with a terrific platform for continued future growth.”
Anacacia Capital manages approximately $600 million in funds, investing in private and listed leading small-medium enterprises. Its target companies typically have minimum $3 million annual earnings and $20 million revenues.