Good evening,

Sydney’s CPS Technology and Infrastructure, which helps the likes of TPG Telecom and Optus plan, build and dismantle mobile towers, is tapping private capital to help underwrite its next leg of growth.

Street Talk can reveal CPS executive chairman Scott Munro has agreed terms to add three mid-market private equity investors Madaus Capital Partners, Friday Capital and Silverfern, to its register. The trio will earn board seats alongside Munro, who remains the major shareholder.

Founded in 1992, CPS has grown to 170 staffers working on 1850 projects across the country. Major wireless network operators and tower owners tap it to execute high-volume, smaller projects, and the company is recording revenues of some $100 million a year.

CPS does everything from scoping sites to decommissioning towers at the end of lease terms – ticking off the build, maintenance and upgrades on the way.

Recently, it has branched out into the lucrative EV market, working with sector giant Tesla on EV charging network infrastructure. Other gigs include field surveys for NBN on its fibre rollout.

Its new backer, Madaus Capital Partners is the family office of Veit Madaus. Its other Australian bets include specialist engineering contractor Eptec Group, where Next Capital has hired MA Moelis to shop a controlling stake.

Read the full story tomorrow and more on the Street Talk page.

• Documents sent by Guzman y Gomez’s largest shareholder, TDM Growth Partners, to its backers in 2018, and now obtained by Street Talk, show the chain missed every key forecast for FY22 and FY23.
• Goldman Sachs and Morgan Stanley’s ECM teams have made a strong comeback in 2024, pulling ahead of last year’s winners, Barrenjoey and UBS, data from Dealogic shows.
• Boutique corporate adviser Greenstone Partners joined a global network of mid-market M&A bankers.
• The $15 million Radiopharm Diagnostics was raising $65 million at a premium, thanks to a Nasdaq-listed strategic’s arrival.

• Guzman y Gomez jumped from $22-a-share IPO price to $30 on its first day on the ASX boards.
• Mineral Resources is mulling a sale of rail assets, including six locomotives and 400 wagons, at its shuttered Yilgarn iron ore operations.
• UK buyout firm Permira delayed IPO of footwear brand Golden Goose.

Goldman and Morgan Stanley ended 2023 at No.8 and No.9, respectively, on the ECM league tables for Australia and New Zealand. Now they are the top two.

Click here for the latest equity market wrap.