MELBOURNE Dec 10 CHAMP Private Equity,
Australia's oldest buyout firm, has appointed Macquarie Capital
as adviser to consider a possible sale or float of its
Golding mining services company, a source familiar with the
situation told Reuters.
Golding, which a press report said could fetch up to A$400
million ($420 million), provides open-cut mining and civil works
services for the resources, transport and construction sectors
in northern Queensland state.
"It is very early in the process," the source said, adding
it was too early to say whether a sale or an initial public
offering would be the preferred exit strategy.
CHAMP acquired family-owned Golding in 2008 for an
undisclosed sum. At the time, Golding had annual revenue of more
than A$350 million per annum and earnings before interest, tax,
depreciation and amortisation of approximately A$50 million,
according to the statement issued at the time.
CHAMP and Macquarie Capital declined to comment.
(Reporting by Victoria Thieberger; Editing by Richard Pullin)