17.11.2016

A revived Hirepool float?

Australian private equity firm Next Capital has appointed Goldman Sachs, Deutsche Craigs and Forsyth Barr in a new attempt to float the Hirepool business in New Zealand and possibly Australia.

The move follows a lack of success by Next Capital to find a trade buyer. If the new advisors agree that a public offering stands a chance of success, it is likely to occur sometime in the first half of next year.

When Hirepool last attempted a float in 2014, Next had hoped to raise around $260 million, but grossly overpriced the business, causing a boycott that forced it to abandon the plan. Since then it has made some acquisitions and business is looking a little brighter. See Hirepool float abandoned The word is that Next Capital is also considering the possibility to sell off its other rental business Onsite Rental.