ArcEnergy, a privately owned embedded networks business whose clients include stratas and property developers, has been taking notes on an uptick in M&A on its patch. Now, it’s ready to seek a backer of its own.
Street Talk understands Arc Energy has been reaching out to private equity investors to test their appetite to come in as a capital partner. There are no bankers on the scene, with Arc Energy running the talks itself.
Its primary business is bundling together utilities such as hot water and internet for multi-tenant properties for stratas and property developers to negotiate better rates with retailers. The Sydney-based business pitches itself as the country’s “fastest-growing network provider”, managing connections for well-known developers such as RichardCrookes. Founder Fred Faker set up the business in 2015.
Sources said Faker has met with potential investors over the years but has renewed deal-making efforts as several of the bigger embedded networks players change hands as financial investors and trade players chase their multi-year contracted revenue streams.
Read the full story tomorrow and more on the Street Talk page.
Haben has hammered down terms to buy 50 per cent of QIC’s Westpoint shopping centre in Blacktown at a $900 million valuation. Now, it needs to find a way to pay for it.
The property investor, which specialises in retail assets, is seeking $263 million for a seven-year fund, which would house its stake in the shopping centre.
Best and worst
Australian shares fell on Monday as energy giants and real estate stocks weighed on the sharemarket.
