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An interesting transaction with a few twists that didn’t go unnoticed in this mornings financial press involved the buy back of the Dun and Bradsheet (D&B) Australian operation for $233m by D&B USA who in 2001 sold their local credit reporting and debt collection agency subsidiary via a joint AMP and Management buy back deal reported to be around $25m.
It was back in 2001 when D&B’s Australian CEO ,Christine Christian initiated a management buy back transaction by appointing the Melbourne based corporate advisory group called Collins Associates,run by two ex Elders IXL identities, to find a cornerstone investor.
John “Jeffo ” Jefferson and Mike ‘The Bike” Feeney successfully applied their Elders taught deal making skills to get an AMP private equity fund to put the dough in so Christine’s management team could make some dough for themselves and their new equity partner.
The fact D&B’s Australian operations are now worth 10 times more than it was in 2001 will give the local D&B management a good bit of dough for their superfunds and a strong negotiating advantage when salary review time comes around next year.
The other interesting twist is that D&B’s USA Chief Executive is also a female; Well done ladies.
Both D&B parties are pleased with the deal and no doubt Jeffo and Mike are expecting to get a nice Xmas card and present from Christine this year!
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