The new week kicked off with one company inching towards privatisation, two trying to get on the board and another reminded that going private isn’t all it’s cracked up to be.
The home relocation technology group is in the middle of raising $US40 million, giving it an enterprise value of about $US260 million. That’s a significant fall from the company’s last publicly available value of $US756 million.
If all goes well, Bain and its advisers will dive into a second round of more extensive, confirmatory diligence with a view to putting a binding offer in front of the Estia board, led by veteran dealmaker Gary Weiss.
The home relocation technology group maintains a wide Australian shareholder base. Its new raising gives it an enterprise value of about $US260 million.
In a note circulated to fund managers on Monday, the investment bank said the group had a “long track record of organic growth ... and consistent margins”.