The dealmakers at Pacific Equity Partners are hard to shake when they’ve got their eye on a sector.
A year after the firm’s Secure Asset team scanned ASX-listed IntegralDiagnostics, Street Talk understands managing director Evan Hattersley has a new target: diagnostic imaging provider ImagingAssociates.
Sources said PEP was in talks to buy the asset that Advent Partners added to its portfolio in 2021 when it was making about $12 million a year at the EBITDA line. They said that number was now closer to $25 million. It’s also bolted on DiagnostiCare, a regional Victoria-based doctor-owned and operated diagnostic imaging facility that claims to provide state-of-the-art services.
Street Talk can reveal Perpetual’s top brass has given some ground to KKR’s dealmakers around a rejigged proposal over the past fortnight.
Sources said both camps were keen to see if the deal was worth saving – KKR because it has spent nearly a year chasing its target and Perpetual because a carve-out is the easiest way out of the storm.
Best and worst
The Australian sharemarket finished marginally higher on Tuesday, as a slew of positive earnings results were offset by a major sell-off in pharmaceutical giant CSL.
