The chequebook is back out at Australia’s busiest buy-out firm.
Street Talk can reveal Quadrant Private Equity is in exclusive talks to acquire Buzz Products – the Australian company that designs and makes pyjamas and high-end amenity kits for Qantas Airways, American Airlines and other carriers.
While a deal has not been signed, it is understood both sides of the transaction expect to reach an agreement in the near-term.
Buzz Products makes just north of $25 million annual earnings and is expected to be worth as much as $200 million.
Quadrant executive chairman Chris Hadley and managing partner Justin Ryan are spearheading the deal.
It is understood Quadrant saw off interest from rival buyout firms, including Sydney-based Archer Capital, to secure exclusivity.
Buzz Products is a Victorian-based success story. It helps clients create kits, which they hope premium passengers will want to use and, more importantly, take home.
The company works with several carriers including Emirates, American Airlines and Qantas and has a chunky contract with Delta Air Lines.
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