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EXPONET FAMILIES REGAIN OWNERSHIP FROM ANZ PRIVATE EQUITY posted on: 25/10/2011 09:35:18
AUSTRALASIA – The two families behind Australia-based exhibition and event supplier ExpoNet have bought back total ownership of the company from shareholder ANZ Private Equity.
ExpoNet founders Jim Delahunty (MD) and Greg Chambers (director) said the decision followed a successful acquisition and expansion programme. ANZ Private Equity came on-board as an equity partner and major shareholder in 2008 to provide funding for the company’s acquisition of AE Group, Onsite Power and Light and Expo Hire.
“The wide corporate insight and disciplines introduced by ANZ Private Equity have helped us achieve our expansion and integration goals quicker than anticipated,” Delahunty explained. “We’ve successfully integrated a group of companies, positioning ExpoNet as the largest conference and exhibition industry supplier in Australia and we look forward to further building on this success as a fully family-owned company.”
Delahunty said the decision to regain full ownership represented a renewed commitment from him and Chambers to the exhibition and events industry. The pair now have plans to invest in new products and services.
“Greg and I have more than 60 years combined experience in exhibition and events and our commitment to this industry is now stronger than ever,” Delahunty added. “Our management team is also highly experienced and dedicated to ensuring the future success of our company.”