Anchorage Newsletter August 2024

Anchorage Acquires ELF Group

In May, we completed our acquisition of ELG Group. ELF Group is based in New Zealand and consists of two business units – Speirs Finance, which offers asset finance and leasing solutions, and ABE, which provides heavy equipment sales, distribution, and maintenance.

The Speirs business is scaling quickly and finances a quality book of critical business assets with low customer arrears and high-quality counterparties. ABE is a diversified equipment distribution, leasing and service platform across industries and franchises, combined with nationwide infrastructure.

ELF Group is the fourth investment in Anchorage Capital Partners Fund IV.

Anchorage Announces Promotion of Jesse Alderton to Director

In June, we announced the promotion of Jesse Alderton to Director.

Since joining Anchorage in 2020 as Associate Director, Jesse has played a key role on several transactions including our most recent investment in ELF Group and on the investment teams for the successful divestment of Rail First Asset Management and current portfolio companies, David Jones & GBST.

Anchorage Welcomes New Senior Associate, Cameron Forsyth

We are delighted to have recently welcomed Cameron Forsyth to the Anchorage team.

Cameron joins us as Senior Associate bringing experience most recently from UBS and Credit Suisse, where he worked on a number of public and private M&A transactions with a focus on private capital clients in the General Industrials and Infrastructure sectors.

Anchorage Portfolio Company SPL, Announces Reconciliation Action Plan

SPL is the only linen services business in Australia (outside indigenous operated facilities) to have joined a network of more than 2,200 corporate, government, and not-for-profit organisations in making a formal commitment to reconciliation through the Reconciliation Action Plan (RAP) program.

The RAP program’s strength is its framework of relationships, respect, and opportunities, allowing an organisation to strategically set its reconciliation commitments in line with its own business objectives, for the most effective outcomes.

SPL CEO, Andrew Robson, said “SPL is committed to being an inclusive space that fosters connection, confidence and diversity. Ensuring that SPL is a culturally safe environment, and the development of our RAP is an important part in meeting that commitment. The entire SPL team and I are excited to meaningfully engage and work with Aboriginal and Torres Strait Islander peoples to create a positive, lasting impact on the linen and laundry industry.”