Kathmandu floater Quadrant buys Media Monitors

Kathmandu float-backer Quadrant buys Media Monitors

by Paul McBeth

July 6 (BusinessDesk) – Quadrant Private Equity, the Australian private investor behind the float of Kathmandu Holdings last year, has bought media intelligence agency Media Monitors Australia Pty.

The private equity group, which has A$765 million under management across two funds, acquired the media monitoring and analysis agency last week for as much as A$160 million, according to The Australian newspaper.

Media Monitors chief executive John Croll said the investment will help accelerate its growth.

Media Monitors was founded in 1982, growing to take dominant positions in Australia and New Zealand by acquiring its competitors. It bought out New Zealand competitor Chong Bureau Ltd. last year for some $6.9 million.

"Media Monitors has a highly successful track record, a strong management team and a leading market position in Australia, New Zealand and across the Asia-Pacific region with a strong presence in China,” said Chris Hadley, Quadrant managing director, in a statement. “We are looking forward to working with the Media Monitors’ management team to further develop the business through innovative products, services and potential strategic acquisitions.”

Quadrant hasn’t been a long-term holder of assets, making 37 exits through a trade sale or initial public offering of its 46 investments, according to its website.

Its most recent acquisition in New Zealand was the buy-out of the remaining half of retirement village operator Summerset Group from AMP Capital Investors.

Quadrant successfully floated Kathmandu Holdings on the NZX and ASX last October, raising A$375 million for the first float on the New Zealand exchange in 22 months.

Quadrant’s Hadley and Marcus Darville will join Media Monitors’ Croll on the company’s board.

(BusinessDesk) 10:50:45

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