He led investment firms Quadrant and FiveV Capital’s $1 billion-plus sale of ProbeCX, an outsourcing services provider, to KKR in September 2021, and worked on restaurant chain Guzman y Gomez’s $100 million private placement to Aware Super a year later, the memo showed.
Until now, RBC had not covered Australian consumer, retail corporations, but it is an active area for the bank in the United States, particularly with private equity sponsors, a person familiar with the hire said.
Mr Sartore’s knowledge of, and connections to, private equity firms will be critical in this role because sponsor capital is increasingly eyeing deals in consumer and retail.
Anchorage Capital Partners, for example, acquired David Jones from South Africa’s Woolworths Holdings earlier this year, while Retail Apparel Group had discussed acquiring men’s fashion retailer Politix from the Country Road Group, the Financial Review’s Street Talk reported last week.
Mr Mete’s industrials team covers heavy industries but also looks after RBC’s healthcare and technology coverage.
RBC, meanwhile, is having a busy 2023 and remains firmly entrenched within the top 10 of Australian M&A and capital markets league tables.
Its industrials team advised IFM Investors on its acquisition of PRP Diagnostic Imaging, and helped underwrite a $330 million debt package for the radiology business in January. The Canadian bank, alongside Goldman Sachs, also advised private equity Thoma Bravo on its bid for aerial mapping business Nearmap in December.
Source: afr.com
