Hawkesbridge Private Equity manages over $200 million in private equity funds for institutional investors. Hawkesbridge invests in management buyout and expansion capital opportunities.
Hawkesbridge Exits Nanopowder Manufacturer APT
Information Release, 28 September 2004
Hawkesbridge Private Equity (HPE) today announced it has successfully completed its first exit for the Hawkesbridge Enterprise Trust, with its divestment of Advanced Powder Technologies Ltd (APT), a company that manufactures a range of nanopowders.
The original investment of $3.7m made by the Trust was sold for $4.56m.
The exit of APT was a significant event according to Joshua Rowe, Managing Director of HPE as it was the first for the Trust which has a 2002 vintage year and resulted in IRR of over 100% and a 1.3 cash multiple.
“It shows that the HPE team can make, manage and successfully exit investments,” Joshua Rowe said.
APT has developed a low cost commercial process for the manufacture of nanopowders, and is renowned for its contribution to Megan Gale’s flagship range of sunscreens.
Its patented commercial process for the manufacture of nanopowders has been developed through its affiliation with Advanced Nano Technologies, a joint venture with Samsung Corning of Korea.
HPE’s initial investment in APT was in March 2004 with the HPE team working closely with the company and KTM Capital on a pre-IPO fund raising. Equity raising will continue for APT with an aim to list on the ASX in the near future.
Biotechnology specialist, Mick Bolto, represented HPE on the Board of APT.
“As a private equity investor, we believe that the decision to exit, which has been supported by the Board of APT, will provide the company with a broader spread of shareholders as it prepares for an IPO.” Mick Bolto said.
The world-class status of APT’s nanotechnologies and associated products gives credence to the possibility of the company taking the world stage.
