According to the Financial Review's Street Talk column Suncorp Group should have a good idea what private equity types and industry players think of Capital S.M.A.R.T next week.
Street Talk reports that Suncorp will take a second lot of bids for its Capital S.M.A.R.T business next week. 'But the auction is far from over and any bidder could seize the day, sources said. '
The article went on to say that Sydney-based buyout firm Quadrant Private Equity is among the potential acquirers and is preparing to bid with Capital SMART founder - and until recently shareholder - Jim Vais. Sponsor rival Pacific Equity Partners is also in the race. The one those two are watching closely though is ASX-listed AMA Group.
Data provider IBIS World reckons AMA has about 7.2 per cent market share, while Capital SMART has 4 per cent to 5 per cent of the motor vehicle body, paint and interior repairs market. AMA's position in the industry means it would have the most available synergies and strategic rationale, provided it can also get access to the required funding.
It comes only weeks after AMA Group missed out on another potential acquisition - towing and trailer parts company Horizon Global's local unit -which was sold to PEP.