<article>Sydney-based private equity firm <a href="https://www.dealstreetasia.com/?s=Anacacia+Capital">Anacacia Capital</a> has sold its entire majority stake in height safety provider <a href="https://www.dealstreetasia.com/?s=RISsafety" target="_blank" rel="noopener">RISsafety</a> to domestic investor Bricktop Group as part of a secondary management buyout, according to an announcement.</article>

Sydney-based private equity firm <a href="https://www.dealstreetasia.com/?s=Anacacia+Capital">Anacacia Capital</a> has sold its entire majority stake in height safety provider <a href="https://www.dealstreetasia.com/?s=RISsafety" target="_blank" rel="noopener">RISsafety</a> to domestic investor Bricktop Group as part of a secondary management buyout, according to an announcement.
No financial details were disclosed. The deal marks the PE firm&#8217;s final exit from Anacacia Partnership I LP fund.
Sydney-headquartered RISsafety designs, manufactures and distributes a range of products for height safety and access needs. It has worked on projects such as the Skypoint Climb atop the Q1 building, the Peppers Resorts Soul building on the Gold Coast and Sydney’s Queen Victoria building.
“This is a great outcome for the RISsafety team – staying independent and focused on its clients and with the support of investors that know the sector well,” said Jeremy Samuel, managing director of Anacacia Capital.
Following the deal, Anacacia Capital investment director Bevan Elliott has resigned from the board. The private equity firm had been a shareholder at RISsafety for over seven years.
Moving forward, the management team of RISsafety, led by the CEO and chairman, will continue to lead the business.
The debut fund of Anacacia, Anacacia Partnership I LP, which was closed in 2007 targeted mature businesses with annual revenues of between $15 million and $116 million. The Wall Street Journal reported that the fund delivered a gross internal rate of return of more than 50 per cent.
Last year, Anacacia Capital made the final close of its Anacacia Fund III at A$300 million ($226 million), with superannuation funds, global pension funds and endowments contributing as LPs.
Anacacia Capital currently manages $600m in funds, investing in private and public companies.
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The PE firm has sold its entire majority stake in RISsafety to domestic investor Bricktop Group as part of a secondary management buyout.

Australia’s Anacacia Capital exits height safety provider RISsafety

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Australia’s Anacacia Capital exits height safety provider RISsafety

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