New Zealand Post (Sale of CouriersPlease)

Advisory role and sale of Australian subsidiary for New Zealand Post. 333 Capital acted as exclusive financial adviser and successfully sold the CouriersPlease business at an industry leading price (12xEBITDA) to Singapore Post for $95million.

Background

CouriersPlease is one of the leading small parcel delivery companies in Australia. Turnover in excess of AUD 100 million with healthy profit margins.

333 Capital was selected to advise NZ Post on its decision to exit CouriersPlease in June 2014, based on 333 Capital�s:

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  • long and close relationship with NZ Post
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  • understanding of the express delivery space in Australia
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  • proven expertise in achieving superior outcomes in mid cap MA transactions.
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Sales process

333 Capital ran a comprehensive international sale process:

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  • identified key business and market attributes and create key selling messages
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  • identified potential purchasers and assess level of interest
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  • created sales documents (flyer and Information Memorandum)
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  • assembled and run data room plus QA facility
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  • co-ordinated all aspects of the transaction
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  • engaged in discussions and negotiations with potential purchasers.
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Outcome

Due to the competitive nature of the process ran by 333 Capital with multiple credible under bidders, CouriersPlease was sold to Singapore Post for $95 million representing circa 12x EBITDA multiple.