A power player in rebuilding businesses and developing talent through transformational capital is touted by mainstream media as a potential purchaser of Toll Global Express.
Speculation via several media outlets – including Australian Financial Review – suggests private equity business, Allegro Funds, could snap up Toll’s business unit which is up for sale.
Allegro, a Sydney-based enterprise founded by Chester Moynihan and Adrian Loader in 2004, recently partnered with Euro Garages Australia and opened its second Pizza Hut kiosk in a New South Wales service station. The move was reportedly part of an initial transformation strategy to boost Pizza Hut Australia’s market share back to the top.
The firm, since investing institutional capital, has managed more than $1 billion of total enterprise value in turnaround and special situation investments.
Allegro currently has investments spanning healthcare, retail, industrial, education, food manufacturing, oil and gas, quick service restaurant, mining, flooring and tourism.
This optimistic acquisition would see Australian ownership rather than an alternative deal with US-based private equity company, Platinum Equity.
If such a deal was to proceed the Australian freight forwarding business, comprising 8,000-plus employees, worth an estimated worth of $3.2 billion would be on the table.
November last year, Toll said in a statement it was exploring the potential sale of Toll Global Express.
The Global Logistics and Global Forwarding businesses, Toll clarified at the time, would not be impacted.
Toll also explained there would be no certainty that such a transaction would occur and will make further announcements on the subject as it deems appropriate.