Business
PEP to buy Modern Star’s Australian, NZ business for $600m – The Australian Financial Review
Australian buyout firm Pacific Equity Partners is set to acquire schools and childcare centre supplies company Modern Star for close to $600 million.
The deal is expected to be signed as early as Monday.
Modern Star is one of Australia and New Zealand’s biggest suppliers of educational resources to schools and early learning centres, with 40,000 products on its books and more than 28,000 customers.
Navis Capital has owned Modern Star in 2014 and hired bankers to sell the business last year.
PEP’s emergence comes after Navis Capital had Luminis Partners and Morgan Stanley run an auction for Modern Star, that fizzled out earlier this year wh…
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