CHAMP Private Equity exits Retail FX broker Pepperstone investment

Pepperstone office

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Australia based private equity manager CHAMP Private Equity has announced that its CHAMP IV Funds have entered into an agreement to exit its investment in Pepperstone, one of the largest Australia based Retail FX brokerage groups. CHAMP had first invested in Pepperstone in 2016.

Tamas Szabo Pepperstone

Tamas Szabo, Pepperstone

Going forward the business will be owned by Pepperstone’s founders, and its senior management team led by CEO Tamas Szabo and Fiona Lock.

Financial terms of the transaction are confidential.

CHAMP is one of Australia’s most experienced private equity managers having first raised institutional capital more than 30 years ago. Since that time CHAMP has made more than 90 investments and deployed more than $3.5 billion in equity capital. CHAMP has one of the largest dedicated investment teams in the region and is currently investing the CHAMP IV Funds. Current CHAMP portfolio companies include: Gourmet Food Holdings, Containerchain, Strait NZ, Dutton Garage, Jaybro, Axieo and Shelf Drilling.

This transaction also marks the first exit for the CHAMP IV Funds, having completed seven acquisitions over the last two and a half years.

Under CHAMP’s ownership, Pepperstone has achieved strong growth in terms of new products, markets, client numbers and earnings, which included an expansion to the UK. Along with this significant growth, CHAMP said that the business has been highly cash generative.

John Haddock CHAMP Private Equity

John Haddock, CHAMP Private Equity

CHAMP Private Equity CEO John Haddock said:

Pepperstone has been a very good investment for CHAMP, achieving our growth objectives ahead of schedule. We are very pleased with the early success that the CHAMP IV funds are achieving for our investors. Like all our former portfolio companies, we wish Pepperstone much success into the future.

As part of this transaction the role of CHAMP Managing Director Fiona Lock will change. While she will continue to be directly involved with a number of portfolio companies and prospective new investments, this will no longer be in a full time capacity given her new commitments at Pepperstone. Mr. Haddock further stated:

For many years I have known Fiona’s wish to be more directly involved in the ownership and leadership of an operating company. Her chairmanship of Pepperstone on behalf of CHAMP and this transaction have provided that opportunity. I look forward to continuing to work together at CHAMP while also wishing her every success as part of the Pepperstone team.

Given her nearly 18 years in private equity and her position as a Managing Director of one of the country’s leading private equity firms, Fiona Lock is considered by many to be the country’s leading female private equity executive. This is a significant achievement for an industry that has historically been very male dominated. “Fiona has done much work on behalf of CHAMP and the Australian private equity industry to improve opportunities for women in private equity for which we are all very appreciative.” Mr Haddock said.

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