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<a style="color: #000080;" href="http://www.archercapital.com.au">Archer Growth Fund</a> is planning to sell $26 million worth of its stake in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=motorcycle+holdings" target="_blank">MotorCycle Holdings</a>&#8216; upcoming initial public offering.</article>

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<a style="color: #000080;" href="http://www.archercapital.com.au">Archer Growth Fund</a> is planning to sell $26 million worth of its stake in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=motorcycle+holdings" target="_blank">MotorCycle Holdings</a>&#8216; upcoming initial public offering.
The IPO is intended to provide a partial exit to the investor, and is a private equity sale. Archer Growth Fund will retain a smaller share after the IPO.
MotorCycle Holdings will use the rest of the proceeds to pare its debt, <a style="color: #000080;" href="http://www.theaustralian.com.au/business/wealth/private-equity-unchains-motorcycle/news-story/2e1465bd50130f4772986dbd43c029b2" target="_blank">reported</a> the Australian.
Archer Growth Fund is the private equity arm of Archer Capital, which has $2 billion in funds under management and is one of Australia&#8217;s top four buyout firms. The Growth Fund team is headed by Craig Cartner, Scott Greck and Timothy Spencer.
MotorCycle Holdings has 34 franchises in 24 locations across Queensland, New South Wales and the Australian Capital Territory, making it the nation&#8217;s largest motorcycle dealership chain. It also provides finance, insurance and warranty solutions.
Its dealerships sell some of the best known brands in the sector, such as BMW, Harley-Davidson and Yamaha.
The management of the company has targeted $212.8 million in sales and $7 million in net profit for this financial year. Sales were $158.7 million three years ago.
Terms sent to prospective investors indicate that MotorCycle Holdings will list at a market capitalization of $75.9 million.
Most of the motorcycle dealerships in Australia are privately owned, and commonly operated by motorcycle enthusiasts. It is a fragmented market, and MotorCycle Holdings is one of the exceptions because it operates dealerships in multiple locations.
Archer Growth will retain a 10 per cent stake after listing. MotorCycle&#8217;s chief executive officer David Ahmet will own 22 per cent of the company.
The company plans to grow in the market through acquisitions, which are easier because of the fragmented nature of the market, and also by expanding its dealership network.
The listing date is April 29.
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<a style="color: #ff0000;" href="http://www.dealstreetasia.com/?s=australia" target="_blank">Chinese-led group to buy Australia’s iconic Kidman cattle ranch for $288m</a> 
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/?s=australia" target="_blank">News Corp invests in seed round of Australia’s Plattar</a>
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Archer Growth Fund, part of Archer Capital, is planning to sell $26 million worth of its stake in MotorCycle Holdings ' upcoming initial public offering. 

Australia: Archer Growth Fund to sell $26m stake in MotorCycle Holdings' IPO

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Australia: Archer Growth Fund to sell $26m stake in MotorCycle Holdings' IPO

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