Not so much news from the Pact but an update from AFR in regards to Loscam auction
Street Talk

Igneo checks into Loscam ANZ auction

Anthony Macdonald, Sarah Thompson and Kanika Sood

Jun 13, 2022 – 9.31pm

The busy dealmakers at Igneo Infrastructure Partners have found another target to add to their growing lists.

Street Talk understands Igneo is one of the parties lining up for pallets group Loscam’s local business, as sell-side advisers Goldman Sachs and UBS go live with the auction after a few months of preparations.

The first round of bids is still a couple of weeks away, but Igneo’s got the firepower to show up at a $1 billion-odd auction has shown it’s willing to go hard when it sees something it wants - like Waste Management NZ, where it beat KKR & Co and Morgan Stanley Infrastructure with a $NZ1.9 billion bid.


Loscam shareholders, including CITIC Capital and Chinese PE investor FountainVest, are hiving off the Australian business via Goldman Sachs and UBS. Reuters

Loscam ANZ’s advisers have pitched the business from the get-go as something that would be attractive to core-plus infrastructure investors including private equity firms. Igneo’s tyre-kicking suggests that’s playing out.

Pacific Equity Partners is also understood to be weighing a bid via its freshly stocked Secured Assets Fund II. PEP’s no stranger to core-plus assets, having owned and sold down smart metering business Intellihub in December.

Loscam rents pallets and other storage products to businesses from its 7 million-plus pallet pool, which have a 34 per cent market share. It made $90 million on the EBITDA line in the 2021 financial year from $170 million revenue, according to flyers sent out in May.

Source: Australian Financial Review